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Daily News 25 January 2023

25 January 2023

*MARKET SUMMARY*

KB VALBURY SEKURITAS 
Wednesday, 25 January 2023


HEADLINE NEWS
• BBNI - Recorded the highest net profit in history
• BI - The distribution of bank loans in December 2022 reached IDR6.38 qn
• BIRD - To maintain existing rate despite ERP
• NPGF - Has sold a fertiliser production facility for IDR275 bn
• BNBR – Consortium builds USD9 bn nickel industrial estate
• INAF – IDR118 bn of working capital held back in covid-19 drug program
• MAPB – General Atlantic's shares will be sold through a private placement
• PPRE – Secured IDR5.2 tn worth of contracts in 2022

VIEW MARKET  
US shares mostly ended in red on Tuesday (24/01)as earnings kick off started following glitches in the opening bell that resulted in brief trading half of multiple stocks. DJIA rose 0.31%, while S&P 500 and Nasdaq retreat 0.07% and 0.27%, respectively. Market was moved by still the same sentiment of fears over economic slowdown on overtightening. Although, the Street seems to have anticipated smaller hike in February. S&P PMI flash survey found that business activity in the US remains week in January with index stood at 46.6. The figure, nevertheless, is higher than those in December of 45.0 as business reports demand is still soft. 

Gold price trading higher at USD1,939/oz, in line with hopes that central bank's less hawkish stance. Meanwhile, WTI maintained at USD80/barrel level despite concerns over weaker demand. 

In Europe, most of stocks ended lower, mimicking Wall Street moves, despite better-than-expected PMI release. The Eurozone's industry activities clocked in 50.2 in January, which is higher than forecast of 49.8 and previous month's PMI at 49.3. 

Most Asian major indices closed in conjunction with lunar new year celebration, although Nikkei 225 and 
ASX ended in green. 

With part of Asia’s main indices closed, JCI is likely to follow cues from Wall Street on Wednesday (25/01) while, the market seems to anticipate earning release from banking.      
    
    
Technical View
Support Level       6832/6804/6767
Resistance Level    6898/6935/6964
Major Trend         Up
Minor Trend         Up
Pattern :               Down to Up (+)

TRADING IDEAS : 
These recommendations based on technical and only intended for one day trading

*BBTN*: Trading Buy
• *Close 1340, TP 1375*
• Entry price at *1320-1340*
• Resistance level at *1375* & support at *1320*
• Beware if the price exceeding *1320*
• Stoploss level at *1265*

*BBRI*: Buy on Weakness
• *Close 4620, TP 4690*
• Entry price at *4580-4620*
• Resistance level at *4690* & support at *4580*
• Beware if the price exceeding *4580*
• Stoploss level at *4470*

*ANTM* : Trading Buy
• *Close 2320, TP 2380*
• Entry price at *2290-2320*
• Resistance level at *2380* & support at *2290*
• Beware if the price exceeding *2290*
• Stoploss level at *2200*

*AKRA*:  Trading Buy
• *Close 1350, TP 1375*
• Entry price at *1325-1350*
• Resistance level at *1375* & support at *1325*
• Beware if the price exceeding *1325*
• Stoploss level at *1275*

*INDF*:  Trading Buy
• *Close 6925, TP 7000*
• Entry price at *6875-6925*
• Resistance level at *7000* & support at *6875*
• Beware if the price exceeding *6875*
• Stoploss level at *6750*

*MAPI*:  Trading Buy
• *Close 1395, TP 1440*
• Entry price at *1375-1395*
• Resistance level at *1440* & support at *1375*
• Beware if the price exceeding *1375*
• Stoploss level at *1310*

*TP : Target Price



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