JCI Indication

Bearish (Moderate)

Support / Resistance: 5,972 – 6,021

Market Drivers:
Corona Virus
- 2,478 confirmed new cases and 108 additional deaths in China
- A total of 42,638 cases have been confirmed and 1,016 people have died, well past the toll from SARS in 2002-03
- WHO: the spread of corona virus among people who had not been to China could be the spark that becomes a bigger fire
- How quickly China’s factories could return to work
- The magnitude of the supply shock depends on the pace of production recovery

Australia NAB Business Confidence (January)
- Added 1 point to -1, with sales and profitability remaining weak
- Index of business conditions was flat at +3, short of the long-run average of +6.
- Index of employment stumbled 3 points to just +1, implying slower jobs growth.

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MARKET NEWS

PT Adaro Energy Tbk. immediately complete the Bhimasena Power Indonesia (BPI) steam power plant (PLTU) project according to the target of completion this year.The construction activities of the BPI PLTU in Batang, Central Java, with a capacity of 2 x 1000 MW have reached a completion rate of around 90 percent by the end of December 2019.

PT Toba Bara Sejahtera Tbk. (TOBA) in 2020 will focus on working on the steam power development project (PLTU) which is still under development. Therefore, the company allocated US $ 160 million in capital expenditure.This year the company will focus on completing construction of the Sulbagut-1 PLTU in Gorontalo and the North Sulawesi 3 PLTU in North Sulawesi.

PT Timah Tbk. This year, the production target is to increase by 5 percent from last year's production realization, with the condition that the trend of tin price movements this year shows an increase.throughout the year 2020, tin prices still depreciated 5.82 percent.The estimated realization of tin production during 2019 was in the range of 60,000 tons to 70,000 tons.

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Technical Recommendations :
Stock: *UNVR*
Short Term Trend: Downtrend
Medium Term Trend: Bearish
Spec Buy : 7,875
Target Price 1: 8,100
Target Price 2: 8,275
Stop Loss: 7,725

Stock: *TLKM*
Short Term Trend: Sideways
Medium Term Trend: Bearish
Spec Buy : 3,810
Target Price 1: 3,890
Target Price 2: 3,980
Stop Loss: 3,690

Stock: *CTRA*
Short Term Trend: Sideways
Medium Term Trend: Bearish
Spec Buy: 905
Target Price 1: 945
Target Price 2: 990
Stop Loss: 860

PT. Phillip Sekuritas Indonesia
Research Department
Atria @Sudirman Level 23B
Jl. Jend. Sudirman Kav. 33A, 10220 Jakarta
Ph: (62 21) 57900 800
Email: research@phillip.co.id
Website: www.poems.co.id