The global market movement this week will be influenced by sentiments from economy data releases such as the Markit Manufacturing PMI, the Fed benchmark interest rates, Balance of Trade, export import and the unemployment rates in the US for the June 2020 period. Domestically, the rise in inflation is expected to be a stimulus for the JCI movement. While the property sector has not responded to the cuts of BI benchmark interest rates, since the banking loan interest rates is still high. Funding source is still dominated by mortgage, making the trend of falling banking loan interest rates is expected by market players to encourage growth in the property sector. In addition, some Book IV banks have started to decrease their loan interest rates which is expected to be followed by other banks. CTRA in Q1 2020 succeeded in booking marketing sales growth of 2.3% by implementing online launch strategy during the pandemic. Thus, we recommend CTRA as this week’s preferred stock with the target price of IDR810 using discount to RNAV of 87%.

Weekly’s Top Stock Pick : CTRA
Support : 560
Resistance : 810

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