JCI Indication
Bearish (Moderate)
Support /
Resistance: 6,108 – 6,192
Market Drivers:
ISM Manufacturing Index (September)
- Fell to 47.8 from 49.1 in August, the second
consecutive month of contraction
- It was the lowest level since June 2009 (the end of
the 2008-9 recession)
- Sparking worries that the fallout from the trade war
is starting to spread to the U.S. economy
- Since 2008, there has been a 72% correlation between
the index level and quarterly growth in real GDP
- President Trump blamed high interest rates and a
strong USD for the weakness in manufacturing
Euro Zone
- Final Manufacturing PMI (September)
- Came in at 45.7, slightly higher than the estimate
but still hitting its lowest level since October 2012
- Germany led the weakness, its PMI coming in at 41.7
- Data from Spain and Italy was also below 50
------------------------------------------------
MARKET NEWS
*ANTM*
ANTM has obtained a recommendation to
extend the approval of metal mineral exports for export sales of low grade
nickel ore (<1.7% Ni) with a total of around 5 million wet metric tons
(WMT). following government regulations on ore export ban on 1 January 2020,
ANTM will maximize nickel ore export quota this year.
*PTPP*
PTPP in cooperation with PT Perusahaan
Gas Negara Tbk (PGAS) will build 500 thousand natural gas networks. Through the
BUMN synergy program to build the country, PGAS and PTPP will build household
Jargas in two phases. The first phase was 50,000 connections and followed by
the second phase of 450,000 SR.
*UNTR*
UNTR will share interim dividends with
fiscal year 2019 and will disburse dividends of IDR 408 per share. As for the
schedule for the implementation of dividend payments on October 23, 2019.
Technical Recommendations :
Stock: *AALI*
Short Term Trend: Sideways
Medium Term Trend: Bullish
Trade Buy : 10,975
Target Price 1: 11,200
Target Price 2: 11,450
Stop Loss: 10,600
Stock: *SIMP*
Short Term Trend: Sideways
Medium Term Trend: Sideways
Trade Buy : 336
Target Price 1: 344
Target Price 2: 354
Stop Loss: 326
Stock: *MNCN*
Short Term Trend: Sideways
Medium Term Trend: Sideways
Spec Buy : 1,240
Target Price 1: 1,270
Target Price 2: 1,310
Stop Loss: 1,195
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
