JCI Indication

Bearish (Moderate)

Support / Resistance: 6,222 – 6,270

Market Drivers:
New Corona virus Fears Escalate
- China’s death toll has risen to 80
- the total number of confirmed cases has risen to 2,744 cases
- Five people in the U.S., all of whom recently traveled from Wuhan, China, have been diagnosed with the new coronavirus
- Hong Kong has banned the entry of visitors from China’s Hubei province
- China’s cabinet announced it will extend the Lunar New Year holidays to Feb. 2. The holidays had been due to end on Jan. 30

Risk Aversion
- All 3 major Wall Street indexes closed sharply lower on Friday
- The S&P 500 seeing its biggest 1-day percentage drop in over 3 months
- JPY rose to the highest in almost 3 weeks versus USD
- US10Y yield was pushed lower for 4 th straight day, dropping to a nearly 3-month trough of 1.67%
- Markets in Australia, China, HK, Singapore, South Korea, and Taiwan are closed for public holidays

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MARKET NEWS
SMRA targeting marketing sales of Rp 4.5 trillion in 2020 (+ 9.75%) on the acquisition of marketing sales throughout 2019 and allocated a capital expenditure of Rp 2.7 trillion, sourced from internal cash.

KLBF Allocates a capital expenditure of Rp 1 trillion to complete a number of projects from a subsidiary, including completing the construction of a new factory relocation from a subsidiary of Bintang Toedjoe and Saka Farma to Cikarang

ARNA is planning to buy back its shares by allocating Rp 30 billion. Stock buyback is done to maintain the fairness of the share price

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Technical Recommendations :
Stock: *MAIN*
Short Term Trend: Downtrend
Medium Term Trend: Bearish
Spec Buy : 925
Target Price 1: 960
Target Price 2: 990
Stop Loss: 895

Stock: *BNLI*
Short Term Trend: Downtrend
Medium Term Trend: Sideways
Trade Buy : 1,220
Target Price 1: 1,250
Target Price 2: 1,285
Stop Loss: 1,180

Stock: *PSAB*
Short Term Trend: Downtrend
Medium Term Trend: Bearish
Spec Buy: 268
Target Price 1: 284
Target Price 2: 296
Stop Loss: 254

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