JCI Indication

Bullish (Moderate)

Support / Resistance: 6,203 – 6,389

Market Drivers:
Solid Global Economic Data
- China industrial Production (December) topped expectations, rising 6.9% Y/Y
- China 2019 GDP grew by 6.1%, matching expectations and the slowest growth rate for the Chinese economy since 1990.
- U.S. Housing Starts (December)soared nearly 17% and reached a 13-year high

Lashes of Liquidity from the Federal Reserve
- The Fed’s buying binge on Treasury bills 
- Yields on 2yr notes are dead in line with the overnight cash rate at 1.56%, compared to 2.62% this time last year.

Oil Prices 
- Jumped as oilfields in southwest Libya began shutting down after forces loyal to Khalifa Haftar closed a pipeline
- Potentially reducing national output to a fraction of its normal level

Economic Calendar for Today
- China: People’s Bank of China releases new loan prime rates


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MARKET NEWS
UNTR targets to sell around 2,900 units of heavy equipment. This target is classified as conservative because the number is the same as the sales target in 2019. In the gold business segment, UNTR cut its gold sales target from the Martabe mine. If last year UNTR targeted to sell 400,000 ounces of gold, this year UNTR is targeting to sell 360,000 ounces to 370,000 ounces of gold.

Throughout 2019, SSIA obtained a new contract value of IDR 2.03 trillion from the target of IDR 2.2 trillion. In general, the obstacles faced by the company is the weakening of people's purchasing power.

WIKA is optimistic that throughout 2019 it will be closed with positive cash flow. The positive cash flow is supported by a cash inflow of IDR 10 trillion. The most funds came from the payment of the Balik Papan - Samarinda Toll Road project.

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Technical Recommendations :

Stock: *ANTM*
Short Term Trend: Downtrend
Medium Term Trend: Sideways
Spec Buy : 840
Target Price 1: 870
Target Price 2: 890
Stop Loss: 795

Stock: *PNBN*
Short Term Trend: Downtrend
Medium Term Trend: Bearish
Spec Buy : 1,250
Target Price 1: 1,280
Target Price 2: 1,315
Stop Loss: 1,215

Stock: *AALI*
Short Term Trend: Downtrend
Medium Term Trend: Sideways
Spec Buy: 12,875
Target Price 1: 13,300
Target Price 2: 13,750
Stop Loss: 12,350

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