JCI Indication

Bearish (Moderate)

Support / Resistance: 5,972 – 6,019

Market Drivers:
Corona Virus
- 3,062 new cases and 97 additional deaths, mostly in Hubei province
- A total of 40,171 cases have been confirmed and 908 people have died
- Factories in China are set to return to work today, but many are expected to remain shut for longer

Non-Farm Payrolls (January)
- Surged 225,000, well above Wall Street estimates for a 158,000 gain
- Unemployment rate ticked higher to 3.6%
- Labor Force Participation Rate increased to 63.4%, matching its highest level since June 2013
- Average Hourly Earnings rose 3.1% (Y/Y) to $28.44 ahead of estimates for 3% growth
  - That marked 18 consecutive months of wage gains above 3%

Economic Calendar for Today
- China: Consumer Price Index and Producer Price Index for January

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MARKET NEWS
PT Estika Tata Tiara Tbk optimistic to get capital injections from newer investors.BEEF intends to conduct a private placement by releasing 188 million shares to raise fresh funds of Rp 68 billion. Director of Estika Tata Tiara Yustinus Sadmoko said that he would use the funds for working capital and capital expenditure.

PT PP (Persero) Tbk. will prioritize expansion in the investment line this year to three sectors, namely property, energy and infrastructure. These three sectors are considered more profitable compared to other sectors.PTPP prepared capital expenditure of IDR5.42 trillion in 2020, up 24.17% compared to last year's realization of IDR4.36 trillion.

PT United Tractors Tbk. estimates that gold production throughout 2020 will reach 360,000 ounces (oz), 10 percent lower than the target in 2019 of 400,000 oz.

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Technical Recommendations :
Stock: *INKP*
Short Term Trend: Sideways
Medium Term Trend: Bearish
Spec Buy : 6,700
Target Price 1: 7,075
Target Price 2: 7,400
Stop Loss: 6,375

Stock: *LPPF*
Short Term Trend: Sideways
Medium Term Trend: Bearish
Spec Buy : 3,250
Target Price 1: 3,400
Target Price 2: 3,540
Stop Loss: 3,100

Stock: *SCMA*
Short Term Trend: Sideways
Medium Term Trend: Bearish
Spec Buy: 1,380
Target Price 1: 1,450
Target Price 2: 1,490
Stop Loss: 1,325

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