JCI Indication

Bearish (Moderate)

Support / Resistance: 6,071 – 6,228

Market Drivers:

US political uncertainty

- The House of Representatives will launch a formal impeachment inquiry into President Trump

- Trump reportedly had pressured Ukrainian President Volodymyr Zelenskiy in a July 25 phone call to investigate Democratic presidential front-runner Joe Biden and his son Hunter, who had worked for a company drilling for gas in Ukraine

- It is uncertain whether the results of the inquiry will lead to an impeachment because of Trump’s support in the Republican-controlled Senate

United Kingdom

- The Supreme Court ruled PM Boris Johnson’s decision to shut down parliament was unlawful

- Several opposition lawmakers have now called for Johnson to step down

- Johnson has refused to rule out the possibility that he might suspend the British parliament for a second time

Economic Calendar for today

- New Zealand: RBNZ official cash rate decision

- Thailand: BOT MPC meeting and decision

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MARKET NEWS

*BNLI*

Bank Indonesia (BI) is easing the down payment provisions through loosening of the Loan to Value (LTV) policy for property financing. BNLI welcomed the policy with a focus on channeling Home Loans (KPR), encouraging financing on property as well as environmentally friendly vehicles.

*EXCL*

EXCL launched Quota Zero Xtra Prepaid service, this new package enables subscribers at no extra charge additional quota through New MyXL application for accessing applications on choice. At present data customers have reached around 88% of the total customers of 56.6 million, EXCL also continues to expand and increase network capacity in various regions in Indonesia.

*ACES*

ACES will add new outlets on September 25, 2019, this outlet is located in the Pacific Place Mall, Jakarta's SCBD area with an area of around 1700 square meters. This new outlet is the 12th store opened by the company this year, bringing the total of the company's outlets to 187.

Technical Recommendations :

Stock: *INDF*

Short Term Trend: Sideways

Medium Term Trend: Bullish

Buy on Weakness : 7,600

Target Price 1: 7,825

Target Price 2: 7,975

Stop Loss: 7,425

Stock: *ITMG*

Short Term Trend: Downtrend

Medium Term Trend: Sideways

Trade Buy: 12,900

Target Price 1: 13,350

Target Price 2: 13,950

Stop Loss: 12,250

Stock: *BMRI*

Short Term Trend: Sideways

Medium Term Trend: Bearish

Spec Buy: 6,950

Target Price 1: 7,100

Target Price 2: 7,275

Stop Loss: 6,775

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