JCI Indication

Bullish (Moderate)

Support / Resistance: 6,236 – 6,324

Wall Street Rose To Fresh Highs
- Fueled by tech stocks and strong economic data
  - MSFT hit record levels while GOOG's market cap topped USD1 tn for the first time 
  - Weekly jobless claims unexpectedly dropped by 10,000 to 204,000
  - Retail sales climbed by 0.3% in December, matching expectations
  - The Philadelphia Fed Manufacturing Survey jumped to 17 in January from 2.4 in December
- S&P 500 blasts through 3,300

China 4Q19 GDP
- It is expected to grow 6%, unchanged from the previous quarter’s pace, which was the slowest since 1Q92
- FY2019, growth is expected to slow from 6.6% in 2018 to 6.1%, the weakest since 1990, reinforcing views that Beijing will roll out more stimulus measures.

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MARKET NEWS
PTPP has signed a contract to build a smelter grade alumina refinery with China Aluminum International Engineering Corporation Ltd.

ITIC has absorbed all proceeds from the initial public offering worth a total of IDR 51.6 billion to purchase tobacco raw materials.

HRTA strengthened the opening of new outlets as one of the company's strategies to strengthen vertical integration this year. HRTA projected that the business prospects of the gold industry were still positive with the upward trend in gold prices caused by investor preferences to hold safe-haven commodities.

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Technical Recommendations :

Stock: *TPIA*
Short Term Trend: Sideways
Medium Term Trend: Bearish
Spec Buy : 9,500
Target Price 1: 9,750
Target Price 2: 9,900
Stop Loss: 9,175

Stock: *WEGE*
Short Term Trend: Downtrend
Medium Term Trend: Sideways
Spec Buy : 308
Target Price 1: 318
Target Price 2: 330
Stop Loss: 298

Stock: *ESSA*
Short Term Trend: Downtrend
Medium Term Trend: Bearish
Spec Buy: 252
Target Price 1: 260
Target Price 2: 268
Stop Loss: 244

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