JCI Indication

Bullish (Moderate)

Support / Resistance: 5,266– 5,539

Market Drivers:
Wall Street Roaring Back
- DJIA: +1,294 (5.1%), S&P 500: +136 (4.6%), NASDAQ: +385 (4.5%)
- Expectations that the Fed would cut rates drove the gains

South Korea GDP (4Q19)
- Grew 1.3% Q/Q (+2.3% Y/Y), just above a 1.2% Q/Q (2.2% Y/Y) rise estimated earlier
- Private Consumption rose 0.9%, more than the 0.7% increase estimated earlier
- For 2019, the GDP expanded 2.0%, unchanged from the advanced estimate

Corona Virus (COVID-19
- China reports 125 new cases, 31 more deaths
- That brings China’s total to 80,151 cases, and 2,943 deaths
- Outside China, the total number of cases topped 8,739 across 61 countries, including 127 deaths
- About 81% of cases outside China are from four countries (South Korea, Italy, Iran and Japan)
- WHO: The number of new cases outside China was almost 9 times higher than that inside the country over the last 24 hours

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MARKET NEWS

PALM will conduct a Buyback of 110 million shares or 1.55% of the issued capital of PALM. Funds prepared to fund the action reached IDR 28.93 billion.

PT Wijaya Karya Beton Tbk. booked a net profit of IDR512.34 bn, growing 5.34% from profit in 2018. WTON posted revenues of IDR7.08 trillion, up 2.2% from revenue in the previous year which reached IDR6.93 tn.

PT Total Bangun Persada Tbk. recorded a new contract worth IDR48.7 bn earlier this year. The contract originated from the school building and hotel project. The project was obtained in January 2020.

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Technical Recommendations :
Stock: *BBNI*
Short Term Trend: Downtrend
Medium Term Trend: Bearish
Spec Buy : 6,700    
Target Price 1: 6,900
Target Price 2: 7,050
Stop Loss: 6,475

Stock: *ASII*
Short Term Trend: Downtrend
Medium Term Trend: Bearish
Spec Buy : 5,700
Target Price 1: 5,950
Target Price 2: 6,175
Stop Loss:5,475

Stock: *MAIN*
Short Term Trend: Downtrend
Medium Term Trend: Bearish
Spec Buy: 685
Target Price 1: 740
Target Price 2: 790
Stop Loss: 645

Stock: *SRIL*
Short Term Trend: Downtrend
Medium Term Trend: Bearish
Trade Buy: 206
Target Price 1: 216
Target Price 2: 226
Stop Loss: 194

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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