The JCI October 11, 2019
Oᴄᴛᴏʙᴇʀ 11, 2019
* Tʜᴇ JCI ᴛʀᴀᴅɪɴɢ ʀᴀɴɢᴇ: 5,090ᴘᴛ – 6,060ᴘᴛ (ʏᴇsᴛᴇʀᴅᴀʏ ᴄʟᴏsᴇ: 6,024ᴘᴛ)
* Tʀᴀᴅᴇ ᴅᴇᴀʟ ʜᴏᴘᴇ ʙᴇᴛᴡᴇᴇɴ ᴛʜᴇ Uɴɪᴛᴇᴅ Sᴛᴀᴛᴇs ᴀɴᴅ Cʜɪɴᴀ ʀᴇsᴜᴍᴇᴅ ʏᴇsᴛᴇʀᴅᴀʏ
* Rᴇʙᴏᴜɴᴅ ᴏɴ ᴛʜᴇ JCI ɪs ᴇxᴘᴇᴄᴛᴇᴅ ʙᴇ ᴄᴀᴘᴘᴇᴅ ʙʏ ɴᴇʀᴠᴏᴜs ꜰᴏʀ sᴇᴄᴜʀɪᴛʏ ᴏɴ ᴛʜᴇ ᴄᴏᴍɪɴɢ ɪɴᴀᴜɢᴜʀᴀᴛɪᴏɴ ᴏꜰ Iɴᴅᴏɴᴇsɪᴀ ᴘʀᴇsɪᴅᴇɴᴛ (20/10)
Morning,
The Jakarta Composite Index (JCI) today (11/10) is expected to be in the range of 5,090pt –6,060pt for resume optimism on trade deal between the United States (US) and China. Despite disappointment on the trade discussion in the lower level, the US president Trump said yesterday (10/10) that he would meet China premier for a signed deal. The DJIA closed higher by 151 points or 0.6% to 26.497pt. Meanwhile, S&P500, and the Nasdaq, also ended stronger, both by 0.6%.
At the other end, USDIDR closed at IDR14.157 yesterday vs. IDR14.182 previously, while the WTI price, closed higher by 1.8% to USD53.6/barrel. OPEC plus countries intend to control price through another supply cut that will be decided in the upcoming December meeting.
We keep the following recommendations. These counters have been hit hard since the end of March this year and thus offer bargain opportunity both for trading and longer term investment purpose. 𝐀𝐀𝐋𝐈, 𝐋𝐒𝐈𝐏 (𝐬𝐞𝐜𝐭𝐨𝐫 𝐨𝐟 𝘈𝘨𝘳𝘪, 𝐚𝐥𝐥𝐨𝐜𝐚𝐭𝐢𝐨𝐧 𝐬𝐮𝐠𝐠𝐞𝐬𝐭𝐢𝐨𝐧 𝘜𝘯𝘥𝘦𝘳𝘸𝘦𝘪𝘨𝘩𝘵 ), 𝐔𝐍𝐓𝐑, 𝐈𝐓𝐌𝐆, 𝐀𝐃𝐑𝐎, 𝐏𝐓𝐁𝐀 (𝐬𝐞𝐜𝐭𝐨𝐫 𝐨𝐟 𝘊𝘰𝘢𝘭 𝘔𝘪𝘯𝘪𝘯𝘨, 𝐚𝐥𝐥𝐨𝐜𝐚𝐭𝐢𝐨𝐧 𝐬𝐮𝐠𝐠𝐞𝐬𝐭𝐢𝐨𝐧 𝘔𝘢𝘳𝘬𝘦𝘵-𝘸𝘦𝘪𝘨𝘩𝘵), 𝐆𝐆𝐑𝐌, 𝐔𝐍𝐕𝐑, 𝐈𝐂𝐁𝐏 (𝐬𝐞𝐜𝐭𝐨𝐫 𝐨𝐟 𝘊𝘰𝘯𝘴𝘶𝘮𝘦𝘳, 𝐚𝐥𝐥𝐨𝐜𝐚𝐭𝐢𝐨𝐧 𝐬𝐮𝐠𝐠𝐞𝐬𝐭𝐢𝐨𝐧 𝘖𝘷𝘦𝘳𝘸𝘦𝘪𝘨𝘩𝘵 ), 𝐀𝐒𝐈𝐈 (𝐬𝐞𝐜𝐭𝐨𝐫 𝐨𝐟 𝘈𝘶𝘵𝘰𝘮𝘢𝘵𝘪𝘷𝘦, 𝐚𝐥𝐥𝐨𝐜𝐚𝐭𝐢𝐨𝐧 𝐬𝐮𝐠𝐠𝐞𝐬𝐭𝐢𝐨𝐧 𝘔𝘢𝘳𝘬𝘦𝘵-𝘸𝘦𝘪𝘨𝘩𝘵), 𝐚𝐧𝐝 𝐀𝐂𝐄𝐒, 𝐒𝐂𝐌𝐀, 𝐌𝐀𝐏𝐈 (𝐬𝐞𝐜𝐭𝐨𝐫 𝐨𝐟 𝘛𝘳𝘢𝘥𝘦, 𝐚𝐥𝐥𝐨𝐜𝐚𝐭𝐢𝐨𝐧 𝐬𝐮𝐠𝐠𝐞𝐬𝐭𝐢𝐨𝐧 𝘖𝘷𝘦𝘳𝘸𝘦𝘪𝘨𝘩𝘵),𝐚𝐧𝐝 𝐓𝐊𝐈𝐌 (𝐬𝐞𝐜𝐭𝐨𝐫 𝐨𝐟 𝘉𝘢𝘴𝘪𝘤 𝘐𝘯𝘥𝘶𝘴𝘵𝘳𝘺, 𝐚𝐥𝐥𝐨𝐜𝐚𝐭𝐢𝐨𝐧 𝐬𝐮𝐠𝐠𝐞𝐬𝐭𝐢𝐨𝐧 𝘔𝘢𝘳𝘬𝘦𝘵-𝘸𝘦𝘪𝘨𝘩𝘵).
Cheers,