JCI Indication

Bearish (Moderate)

Support / Resistance: 5,913 – 5,976

Market Drivers:
COVID-19
- 115 additional deaths and 411 new cases, which brought the total number of fatalities to 2,144 and 62,422 infections
- South Korea’s confirmed cases balloon to 104, with 22 additional ones reported 
- WHO’s Director-General Tedros Adhanom Ghebreyesus emphasized that the virus could break out globally at any time.

Japan Flash Manufacturing PMI (February)
- Fell to  47.6 from a final 48.8 in January, its lowest since late 2012
- Stayed below the 50.0 threshold for a 10th month and marked the longest such stretch since a 16-month run to June 2009
- Reinforced the risk of a recession in the world’s 3rd-largest economy

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MARKET NEWS

PPRE has prepared a number of strategies to add new contracts with a target of IDR 7 tn by 2020.The strategy that will be carried out by the company this year is to increase market share outside the group and to target mining infrastructure development projects through its subsidiary PT Lancarjaya Mandiri Abadi.

PPRO, A subsidiary of PT PP (Persero) Tbk. optimistic that it can reap pre-sales or marketing sales revenue of IDR 3.5 tn - IDR 4 tn this year.The company is optimistic that it can achieve this target by implementing a number of business diversification strategies.

UNTR opens opportunities to increase exploration activities and the acquisition of gold and other mineral mines as a corporate diversification strategy.

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Technical Recommendations : 
Stock: *UNVR*
Short Term Trend: Downtrend
Medium Term Trend: Bearish
Spec Buy : 7,600
Target Price 1: 7,850
Target Price 2: 8,050
Stop Loss: 7,275

Stock: *INCO*
Short Term Trend: Downtrend
Medium Term Trend: Bearish
Spec Buy : 3,120
Target Price 1: 3,230
Target Price 2: 3,300
Stop Loss: 3,020

Stock: *ACES*
Short Term Trend: Sideways
Medium Term Trend: Sideways
Spec Buy: 1,560
Target Price 1: 1,615
Target Price 2: 1,645
Stop Loss: 1,530

Stock: *RALS*
Short Term Trend: Sideways
Medium Term Trend: Bearish
Spec Buy: 995
Target Price 1: 1,040
Target Price 2: 1,080
Stop Loss: 965

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