JCI Indication

Bearish (Moderate)

Support / Resistance: 6,222 – 6,318

Heightened geopolitical tensions in the Middle East
Middle East Tension
- Defense Secretary Mark Esper: The U.S. has no plans to pull its troops out of Iraq
- Reports by Reuters and other media of a U.S. military letter informing Iraq officials about the repositioning of troops in preparation to leave

The Final Japan Services PMI (December)
- Fell to 49.4 from 50.3 in November, decline from a preliminary reading of 50.6 and to its lowest level since September 2016
- It was below the 50 mark for the 2nd time in 3 months

Oil Prices
- Surrendered some hefty gains as many doubted Iran would strike back in a way that would disrupt supplies, and its own crude exports

Economic Calendar for Today
- China’s FX Reserves
- U.S. ISM Non-Manufacturing Index
  - Surveys of service sectors out overnight showed some improvement in the U.S., UK and EU, stirring speculation the ISM Non-Manufacturing Index will also show strength

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MARKET NEWS
ACST has set a working capital (capex) of Rp 100 billion to Rp150 billion throughout 2020. The capex will be allocated a lot for the procurement of the Capex project equipment, which will still come from internal cash.

IMPC expansion in Australia by acquiring the assets owned manufacturer and distributor of roofing products FRP and polycarbonate, Galaxy Rooflite Pty. Ltd. The types of assets taken over are in the form of inventory, machinery and equipment, as well as trademarks, with a transaction value of 1.5 million Australian dollars.

DNET through Indomarco Prismatama plans to add 1,000 outlets this year. Managing Director of Indomarco Prismatama Wiwiek Yusuf said that in 2020 the company plans to grow one of them through the addition of Indomaret outlets.

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Technical Recommendations :
Stock: *JPFA*
Short Term Trend: Sideways
Medium Term Trend: Bearish
Spec Buy: 1,570
Target Price 1: 1,630
Target Price 2: 1,675
Stop Loss: 1,520

Stock: *INTP*
Short Term Trend: Downtrend
Medium Term Trend: Bearish
Spec Buy : 18,875
Target Price 1: 19,300
Target Price 2: 19,725
Stop Loss: 18,250

Stock: *INDY*
Short Term Trend: Sideways
Medium Term Trend: Bullish
Trade Buy : 1,235
Target Price 1: 1,275
Target Price 2: 1,310
Stop Loss: 1,180

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