JCI
Indication
Bearish (Moderate)
Support / Resistance: 6,167 – 6,267
Market
Drivers:
Renewed
fears over the state of the global economy
-
Mixed economic data
-
U.S. Preliminary Services PMI (September)
- The services sector shrank for the first time in 9.5 years
-
U.S. Manufacturing PMI (September)
- Rose to 51 from 50.3, topping expectations
-
German Preliminary Manufacturing PMI (September)
- Down to 41.4 from 43.5, its lowest level since the GFC
-
German Preliminary Services PMI (September)
- Down to 52.5 from 54.8, its slowest growth pace in 9 months
U.S.-China
Trade War
-
Chinese importers buying 10 boatloads of U.S. soybeans following last week’s
trade negotiations
-
Trade talks will resume in two week
------------------------------------------------
MARKET
NEWS
*TBIG*
TBIG plans to issue global bonds worth USD 650 million or equivalent
to IDR 9.19 trillion, lower than the initial target of USD 850 million. If the
absorption of funds already according to plan, the company will use the funds
for refinancing needs.
*WSKT*
This year, WSKT plans to divest five toll road concessions with potential cash income of IDR 2.5 trillion. This was done as an effort to improve financial performance for the rest of the year.
*ADHI*
ADHI subsidiary, PT Adhi Commuter Properti, plans to develop a
number of projects in 2H19, one of them was to build an apartment in Bogor with
an area of ??5,731 square meter. Each unit of apartment will be sold
around IDR 400 million.
Technical
Recommendations :
Stock:
*RALS*
Short
Term Trend: Sideways
Medium
Term Trend: Bearish
Buy
on Weakness : 1,200
Target
Price 1: 1,250
Target
Price 2: 1,275
Stop
Loss: 1,165
Stock:
*UNVR*
Short
Term Trend: Sideways
Medium
Term Trend: Bullish
Trade
Buy: 47,300
Target
Price 1: 48,500
Target
Price 2: 49,300
Stop
Loss: 45,850
Stock:
*ZINC*
Short
Term Trend: Sideways
Medium
Term Trend: Bearish
Spec
Buy: 488
Target
Price 1: 505
Target
Price 2: 530
Stop
Loss: 474
Stock:
*ASRI*
Short
Term Trend: Sideways
Medium
Term Trend: Bearish
Spec
Buy: 306
Target
Price 1: 314
Target
Price 2: 322
Stop Loss: 298
PT. Phillip Sekuritas Indonesia
Research Department
ANZ Tower Level 23B
Jl. Jend. Sudirman Kav. 33A, 10220 Jakarta
Ph: (62 21) 57900 800
Email: research@phillip.co.id
Website: www.poems.co.id
