JCI Indication

Bearish (Moderate)

Support / Resistance: 6,013 – 6,154

Market Drivers:

Corona Virus
- Death toll in China reached 213 (+43) and 9,692 (+1,982) cases of infection nationally
- The WHO declared it a global health emergency

The U.S. economy 
- Grew 2.1% Q/Q (2.3% Y/Y) in 4Q19, roughly equaled the growth during the prior two period
- Left it at 2.3% for all of 2019 followed the 2.9% notched in 2018
- Missed the Trump administration’s 3% target for a 2nd straight year
- Slump in business investment deepened amid damaging trade tensions

Japan Economic Data December
- Industrial production grew 1.3% M/M (-3% Y/Y)
  - Following a 1.0% decline in November and a 4.5% drop in October
- Retail sales fell 2.6% (Y/Y), down for a 3rd straight month 
- Unemployment Rate was 2.2%, unchanged from the previous month
  - Jobs-to-applicants ratio stood at 1.57

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MARKET NEWS
DEAL is reviewing the addition of vehicles to get around the increasing needs of the fleet. The need to increase as the government crackdown on the practice plan exceeds the load limit and dimensions or overdimension overloading (ODOL) .

SGRO targeting the average selling price (ASP) of crude palm oil to touch IDR8,000 per kg.in 2019, the average selling price of crude palm oil produced by the company would be in the range of IDR6,500 per kg to IDR7,000 per kg.

A subsidiary of MDLN targeting to market an area of ??60 hectares (ha) by 2020. MDLN runs a business unit selling industrial land through PT Modern Industrial Estate. The company targets to sell 60 hectares of land this year.

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Technical Recommendations : 
Stock: *CPIN*
Short Term Trend: Downtrend
Medium Term Trend: Sideways
Spec Buy : 6,700
Target Price 1: 7,000
Target Price 2: 7,175
Stop Loss: 6,425

Stock: *KLBF*
Short Term Trend: Downtrend
Medium Term Trend: Bearish
Spec Buy : 1,515
Target Price 1: 1,550
Target Price 2: 1,580
Stop Loss: 1,470

Stock: *PGAS*
Short Term Trend: Downtrend
Medium Term Trend: Bearish
Spec Buy: 1,800
Target Price 1: 1,860
Target Price 2: 1,940
Stop Loss: 1,745

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