Morning Brief
Daily | Dec 19 2017
progress of the U.S. tax reformation persists.
Top Gainers : Consumer (+1.40%),
Finance (+0.31%), Agriculture (+0.18%)
Today’s Outlook: Vote of the U.S. Tax Bill
We estimate JCI to move lower with the
support range of 6090
-
6094 and
resistance range of 6157
-
6160
by today. The globally negative sentiment
comes from the U.S. as today the U.S. parliament will vote the tax reformation
bill. According to the updated new, it is estimated that the bill will be passed.
This bill approval will strengthen USD. On the other flip side, ahead of the
yearend, the decline in transaction volume gives the risk of higher JCI volatility.
JCI Movement
The U.S. markets rallied to its highest level last night. Investors awaited voting in
the Parliament to decide Tax Reformation Laws.
Europe
European markets rallied yesterday amid the heightened expectancy of tax
reformation bill to be passed by the U.S. parliament.
Stocks Recommendation
ANTM
Last = 635
Analysis
Indonesian government estimated to finish the
discussion with Freeport McMoran relating
the ownership transfer of copper mining in
Grasberg.
Range
625 – 685
Action
Trading Buy. Cut Loss If Below 625
ITMG
Last = 20350
Analysis
Global coal price nudged up 0.84% to
USD101.9 per ton as China's government plans
to close a number of non
-
ecofriendly mining.
Range
20125 – 21700
Action
Trading Buy. Cut Loss If Below 20125
INCO
Last = 2900
Analysis
Global nickel price continued to record rally of
2.16% yesterday. It was backed by the
expectancy of higher economic growth in
China, Europe, and the U.S.
Range
2850
-
3040
Action
Trading buy. Cut Loss If Below 2850
Source: Bloomberg
Source: Bloomberg
Source: Bloomberg
Sector Rotation
Source: Bloomberg
Relative Rotation Graph
-
Last 10 Days
98 99 100 101
95 96 97 98 99 100 101 102
Agriculture
Mining
Infrastructure
Basic Ind. Consumer
Finance
Misc Ind.
Trade
Property