The JCI September 23, 2019
Sᴇᴘᴛᴇᴍʙᴇʀ 23, 2019
*Tʜᴇ JCI ᴛʀᴀᴅɪɴɢ ʀᴀɴɢᴇ 6,180ᴘᴛ – 6,250ᴘᴛ (Fʀɪᴅᴀʏ ᴄʟᴏsᴇ 6,232ᴘᴛ)
* Wᴀʟʟ Sᴛʀᴇᴇᴛ ᴡᴇᴀᴋᴇʀ ᴄʟᴏsᴇ ᴀs ᴏᴘᴛɪᴍɪsᴍs ᴏɴ ᴛʀᴀᴅᴇ ᴅᴇᴀʟ sᴇᴀʟᴇᴅ ᴡɪᴛʜ Cʜɪɴᴀ ꜰᴀᴅᴇᴅ
* Tʜᴇ JCI ɪs sᴜᴘᴘᴘᴏʀᴛᴇᴅ ʙʏ ʟɪǫᴜɪᴅɪᴛʏ ᴀɴᴅ ᴘʀɪᴄᴇs ʙᴏᴛʜ ᴀʙsᴏʟᴜᴛᴇ ᴀɴᴅ ʀᴇʟᴀᴛɪᴠᴇs
Morning,
The Jakarta Composite Index (JCI) today (23/9) is expected to be in the range of 6,180pt –6,250pt after weaker Wall Street close last Friday (20/9). Wall Street responded negatively by the news that China trade delegations cut short its visit in the United States last weekend and took the news as a sign of further undecided trade deal with China. Last weekend, the DJIA closed lower by 160 points or 0.6% to 26.935pt. Meanwhile, S&P500, and the Nasdaq, also ended lower by 0.5% and 0.8%, respectively.
At the other end, USDIDR closed stable at IDR14.085 last Friday vs. IDR14.090 previously, while the WTI price, closed at USD58.1/barrel, barely changed from the previous one. Both are expected to provide support for the JCI today.
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,