JCI Indication

Bullish (Moderate)

Support / Resistance: 6,295 – 6,349

Market Drivers:
Expectations of stimulus from central banks around the world
- Fed Chairman Jerome Powell said late last week the Fed would act as appropriate to sustain economic expansion
- A phrase that financial markets have read as a sign of an impending rate cut.
- The ECB is expected to introduce new stimulus measures at its meeting on Thursday.

Oil Prices
- Continued rising this morning following a more than 2% surge on Monday
- Saudi Arabia’s new energy minister, Prince Abdulaziz bin Salman, committed to crude output cuts to support prices

Economic Calendar for Today
- China: Consumer Price Index, Producer Price Index for August

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MARKET NEWS
MDLN
MDLN targets marketing sales of IDR 4.38 trillion by the end of this year. The  strategy for 2H19 is that the company will boost sales of residential plot products and new apartments. Meanwhile throughout 1H19 the company has pocketed marketing sales of IDR 1.9 trillion.

WEGE
WEGE has reported the realization of new contracts of IDr 4.9 trillion in January 2019 until the third week of August 2019 or equivalent to 40.9% of the target of IDR 11.98 trillion in 2019. Until 1H19 WEGE posted revenues of IDR 2.15 trillion, down 10.41 % YoY from IDR 2.40 trillion

INTP
Throughout 1H19, the realization of INTP capex was still at 20% or IDR 200 billion of the total this year's target of IDR 1 trillion. This is due to most of capex will be issued in 2H19 and adjusted to the schedule of several projects. The company is optimistic that it can achieve sales targets by boosting infrastructure projects.

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Technical Recommendations :

Stock: *CPIN*
Short Term Trend: Sideways
Medium Term Trend: Sideways
Trade Buy : 5,075
Target Price 1: 5,275
Target Price 2: 5,500
Stop Loss: 4,850

Stock: *PNLF*
Short Term Trend: Downtrend
Medium Term Trend: Bearish
Spec Buy : 294
Target Price 1: 308
Target Price 2: 324
Stop Loss: 282

Stock: *PNBN*
Short Term Trend: Downtrend
Medium Term Trend: Bearish
Spec Buy : 1,370
Target Price 1: 1,420
Target Price 2: 1,470
Stop Loss: 1,300

Stock: *PTPP*
Short Term Trend: Downtrend
Medium Term Trend: Bearish
Spec Buy : 1,795
Target Price 1: 1,860
Target Price 2: 1,945
Stop Loss: 1,740

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