JCI Indication

Bullish (Moderate)

Support / Resistance: 6,290 – 6,343

Market Drivers:The Signing of U.S. - China Phase One Trade Deal
- U.S. Treasury Secretary Steven Mnuchin:
  - The U.S. will maintain tariffs on Chinese goods until the completion of a 2nd phase of a U.S.-China trade agreement
  - The deal will be fully enforceable, including a pledge by China to refrain from manipulating its currency
  - It is expected to include a commitment from China to buy about USD200 bn of U.S. goods over 2 years
    - USD80 bn in manufactured goods
    - USD53 bn in energy
    - USD32 bn in agriculture
    - USD35 bn in services
- China's subsidies to state-owned firms are expected to be addressed under a later Phase 2 trade deal, but it remains unclear when those negotiations will begin

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MARKET NEWS
PT Blue Bird Tbk (BIRD) has prepared a number of expansion plans this year. One of BIRD's plans for 2020 is to add around 200 units of electric cars.

PT Wijaya Karya Tbk (WIKA), which last year only received a new contract of Rp 42 trillion. The value of the new contract last year is actually still far from the 2019 target of Rp 61 trillion. WIKA is optimistic that projects that have not been obtained last year will carry over this year. Thus, WIKA set a new 2020 contract target of Rp 65 trillion.

PT Arwana Citramulia Tbk. allocates capital expenditure of Rp165 billion this year. The capital expenditure is used for the expansion of the new factory in Mojokerto.The expansion will be carried out at the 5B Plant in Mojokerto with a new capacity of 3 million square meters. This expansion plan is targeted to be completed by the end of 2020.

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Technical Recommendations :

Stock: *INTP*
Short Term Trend: Downtrend
Medium Term Trend: Bearish
Spec Buy : 18,625
Target Price 1: 19,200
Target Price 2: 19,750
Stop Loss: 17,975

Stock: *DMAS*
Short Term Trend: Sideways
Medium Term Trend: Bearish
Trade Buy : 290
Target Price 1: 302
Target Price 2: 314
Stop Loss: 278

Stock: *BJBR*
Short Term Trend: Downtrend
Medium Term Trend: Bearish
Spec Buy: 1,145
Target Price 1: 1,230
Target Price 2: 1,325
Stop Loss: 1,090

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