JCI Indication

Bullish (Moderate)

Support / Resistance: 6,199 – 6,263

Market Drivers:
Middle East Turmoil
- President Trump:
  - Iranian attack on U.S. forces had not harmed any Americans
  - Iran appeared to be standing down
  - The U.S. will immediately impose additional punishing economic sanctions on the Iranian regime
- Iranian Foreign Minister Mohammad Javad Zarif:
  - Iran did not seek an escalation and the strikes concluded Tehran’s response to the killing of Soleiman
- Iraq Military:
2 rockets had fallen inside Baghdad’s Green Zone but there were no casualties

The Unwinding of Risk-Off trade
- JPY is weaker against USD in early Asian trade
- Yields on the 10yr U.S. Treasury note rose to 1.863% after dropping to 1.70%
- Gold gave back sharp gains and traded steady at $1,557 per ounce
- Oil prices tumbled nearly 5% overnight


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MARKET NEWS
PT Bumi Resources Tbk. reduced the amount of Tranche A's debt, which when totaled the total debt paid was US $ 313.8 million. The BUMI explained that it had processed its eighth payment of US $ 11.6 million through a facility agent on 8 January 2020, representing a principal loan of US $ 4 6 million and interest of US $ 7.0 million for Tranche A.

PT Lippo Karawaci Tbk. (LPKR) obtained fresh funds of S $ 124.3 million or Rp1.28 trillion from the sale of two malls by LMIRT Management Ltd. to NWP Retail.

Shipping company, PT Mitrabahtera Segara Sejati Tbk. peg profit growth of 20% this year which will be driven by efficiency that will be continued by the company.Despite the condition of coal commodities still experiencing volatility and uncertainty, the company will still focus on internal improvement and efficiency in This year.

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Technical Recommendations :

Stock: *BBNI*
Short Term Trend: Downtrend
Medium Term Trend: Sideways
Spec Buy: 7,425
Target Price 1: 7,700
Target Price 2: 7,900
Stop Loss: 7,150

Stock: *JSMR*
Short Term Trend: Downtrend
Medium Term Trend: Sideways
Spec Buy : 5,075
Target Price 1: 5,200
Target Price 2: 5,350
Stop Loss: 4,950

Stock: *PGAS*
Short Term Trend: Sideways
Medium Term Trend: Sideways
Spec Buy : 2,100
Target Price 1: 2,160
Target Price 2: 2,240
Stop Loss: 2,030

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