JCI Indication

Bullish (Moderate)

Support / Resistance: 6,222 – 6,318

Market Drivers:
Middle East
- Iran has launched more than a dozen ballistic missiles against multiple bases housing U.S. troops in Iraq
- President Trump is monitoring the situation closely and consulting with his national security team
- Oil prices surged more than 4%
  - WTI crude futures rose nearly USD3 (>5%), to USD65.5/barrel
  - Brent futures rose 4.2% to USD71.24/barrel, before pulling back to USD70.82
- JPY rose 0.6% to a 3 month high of 107.74 per USD
- Gold futures for February delivery were up 2.12% to USD1,607.6
- U.S. stock futures plunged
  - Dow futures indicated a loss of 432 points.
  - S&P 500 and NASDAQ 100 futures pointed to losses of at least 1.5%

The U.S. Economy
- ISM Non-Manufacturing Index (December) came in at 55.0, versus 54.3 expected.
- Trade deficit contracted to USD43.1 bn in November, the lowest level of the Trump administration. Much of the gain came from a reduction of the gap with China.


------------------------------------------------

MARKET NEWS
PT Merdeka Copper & Gold Tbk (MDKA) together with PT J Resources Asia Pacific Tbk (PSAB) have signed a Pani mining joint venture.

This year, PT United Tractors Tbk (UNTR) set a conservative target for heavy equipment sales. This year UNTR is targeting to sell around 2,900 units of heavy equipment. This target is set with consideration of the prospects for the mining industry, especially coal commodities that are still stagnant, the same as last year.

Telecommunications operator PT Indosat Tbk (ISAT) or Indosat Ooredoo recorded an increase in data traffic of 12.8% compared to normal days in the Christmas holiday season 2019 and New Year 2020. Meanwhile, when compared to the previous year, this data traffic jumped 60.92%.

-------------------------------------------------

Technical Recommendations :
Stock: *ISAT*
Short Term Trend: Sideways
Medium Term Trend: Bearish
Spec Buy: 2,900
Target Price 1: 2,980
Target Price 2: 3,050
Stop Loss: 2,780

Stock: *BMTR*
Short Term Trend: Downtrend
Medium Term Trend: Sideways
Spec Buy : 342
Target Price 1: 354
Target Price 2: 366
Stop Loss: 328

Stock: *MEDC*
Short Term Trend: Uptrend
Medium Term Trend: Uptrend
Trade Buy : 900
Target Price 1: 950
Target Price 2: 985
Stop Loss: 860

PT. Phillip Sekuritas Indonesia
Research Department
ANZ Tower Level 23B
Jl. Jend. Sudirman Kav. 33A, 10220 Jakarta
Ph: (62 21) 57900 800
Email: research@phillip.co.id
Website: www.poems.co.id