JCI Indication

Bearish (Moderate)

Support / Resistance: 6,404 – 6,483

Market Drivers:

Likely Smaller Fed Rate Cut

- WSJ reported the Fed was likely to cut rates by 25 bps when it meets later this month, and may make further cuts in the future given global growth and trade uncertainties

- USD and UST yields rose while Gold slipped from a six-year high

Heightened Middle East tensions

- Iran’s Revolutionary Guards on Friday captured a British-flagged oil tanker in the Gulf

- After Britain seized an Iranian vessel earlier this month,

- Further raising tensions along a vital international oil shipping route

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 MARKET NEWS

PTPP

PTPP obtained IDR 14.8 trillion in new contracts from the energy sector as the  largest contributor with 39.7% or IDR 5.88 trillion. The second largest is the work of multi-storey buildings valued at IDR 3.49 trillion. The third is IDR 3.18  trillion in infrastructure sector work.

ISAT

Indosat Ooredoo once again won 2019 Selular Awards for the Best Bundling Program and Most Innovative Data Package category. This award shows that Indosat Ooredo's bundling package and data gained a positive response from the public and the market.

KINO

KINO acquired an Indian company, Linanda Consumer India Privatye Limited by purchasing share of IDR 2.02 million. Kino International Pte Ltd (subsidiary) also acquired the Indian company for IDR 18.19 million. This is a strategic step for international market penetration, especially in India and South Asi.

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Technical Recommendations :

  Stock: *HMSP*

Short Term Trend: Sideways

Medium Term Trend: Bearish

Trade Buy : 3,130

Target Price 1: 3,250

Target Price 2: 3,350

Stop Loss: 3,030

Stock: *UNTR*

Short Term Trend: Sideways

Medium Term Trend: Bullish

Spec Buy : 27,275

Target Price 1: 28,000

Target Price 2: 28,850

Stop Loss: 26,450

Stock: *PTBA*

Short Term Trend: Sideways

Medium Term Trend: Sideways

Trade Buy : 2,880

Target Price 1: 2,940

Target Price 2: 3,010

Stop Loss: 2,790

PT Phillip Securities Indonesia
ANZ Tower Level 23B, JlJendSudirman
Kav. 33A Jakarta 10220 – Indonesia
Tel +62-21 5790 0800 Fax +62-21 5790 0809
Website: www.phillip.co.id