JCI Indication

Bearish (Moderate)

Support / Resistance: 6,356 – 6,434

 Market Drivers:

S&P 500 and NASDAQ notch another record close

- Strong earnings from tech giants like Alphabet, Twitter and Intel

- Consumer stocks such as Starbucks and McDonald’s also contributed to the gains

U.S. economic growth

- Increased at a 2.1% (+2.3% Y/Y), stepping down from an unrevised 3.1% pace in 1Q19

- A surge in consumer spending (+3.5% Q/Q, +2.3% Y/Y) blunted some of the drag from declining exports (-0.7% Q/Q, +0.5% Y/Y)) and a smaller inventory build (-0.9% Q/Q, +0.5% Y/Y)

- Business investment contracted (-0.6% Q/Q) for the first time in more than 3 years

Housing declined (-1.5% Q/Q) for a sixth straight quarter

Japanese Retail Sales (June)

- Rose 0.5% (Y/Y), compared with the median forecast for a 0.2% increase

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 MARKET NEWS

UNVR

UNVR 1H19 income rose 1.2% from IDR 21.18 trillion to IDR 21.45 trillion, which was triggered by increased consumer buying power. To encourage this year's sales, UNVR will boost exports to IDR 2-3 trillion. The company has prepared a CAPEX of IDR 1.1 trillion to increase distribution network and increase production machinery capacity.

CLEO

In 1H19 CLEO sales valued at IDR 491.98 billion or 42.28% of this year's sales target of IDR 1.16 trillion, growing by 40% YoY. The gross profit of IDR 173.02 billion and net profit attributable to the parent of IDR 63.93 billion at the end of June 2019 which reflects GPM 35.16% and NPM 12.99%.

ITMG

ITMG targets coal production of 23.6 million tons by the end of this year and sales projections of 26.5 million tons throughout the year. For information, from January to March 2019 the company only sold 6 million tons of coal. Furthermore, ITMG also develops mining infrastructure such as port expansion, adding equipment, and fulfill machine equipment.

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 Technical Recommendations :

 Stock: *BBNI*

Short Term Trend: Downtrend

Medium Term Trend: Sideways

Spec Buy : 8,425

Target Price 1: 8,700

Target Price 2: 8,875

Stop Loss: 8,175

Stock: *ANTM*

Short Term Trend: Uptrend

Medium Term Trend: Bullish

Buy on Weakness : 880

Target Price 1: 930

Target Price 2: 970

Stop Loss: 845

Stock: *RALS*

Short Term Trend: Downtrend

Medium Term Trend: Sideways

Trade Buy : 1,345

Target Price 1: 1,405

Target Price 2: 1,460

Stop Loss: 1,295

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