JCI Indication

BULLISH

Support / Resistance: 5,906 – 6,014

Market Drivers:
Corona Virus
- A total of 28,018 cases have been confirmed and 563 (+73) people have died in China
- WHO played down media reports of breakthrough drugs being discovered

ADP National Employment Report (January)
- Private payrolls jumped by 291,000 jobs, the most since May 2015 and well above the 150,000 estimate
ISM Non-Manufacturing Index (January)
- Rose to 55.5 from 54.9 in December
- It was the highest level since August 
- Suggesting the economy could continue to grow moderately this year even as consumer spending slows

Economic calendar for Today
- Australia: Retail sales and trade data for December
- India: Reserve Bank of India policy statement
- Philippines: Bangko Sentral ng Pilipinas Monetary Board Meeting & Decision

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MARKET NEWS
PT Jasa Marga (Persero) Tbk. will begin the process of preparing the initial public offering (IPO) of its subsidiary which manages the Trans Java Toll Road next year.

PT Wijaya Karya (Persero) Tbk. eyeing growth in the value of new contracts by 50 percent in 2020. The company is optimistic that it can meet the target in line with the recovery in the construction market.With a target of 50 percent, the value of Wijaya Karya's new contract at the end of 2020 is estimated to reach 62.4 trillion.

PT Kimia Farma (Persero) Tbk. claimed that the supply of N95 masks in the company's network outlets was limited. Masks are scarce because there is a demand in large numbers. The N95 Masker was hired by the National Disaster Management Agency (BNPB) as a measure to prevent the spread of the corona virus.

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Technical Recommendations : 
Stock: *EXCL*
Short Term Trend: Downtrend
Medium Term Trend: Bearish
Spec Buy : 2,890
Target Price 1: 3,000
Target Price 2: 3,120
Stop Loss: 2,780

Stock: *MAIN*
Short Term Trend: Downtrend
Medium Term Trend: Bearish
Spec Buy : 875
Target Price 1: 915
Target Price 2: 960
Stop Loss: 840

Stock: *MEDC*
Short Term Trend: Sideways
Medium Term Trend: Bearish
Trade Buy: 710
Target Price 1: 750
Target Price 2: 795
Stop Loss: 660

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