JCI Indication

Bullish (Moderate)

Support / Resistance: 6,031 – 6,092

Market Drivers:

U.S. Non-Farm Payrolls (September)

- Increased by 136,000 jobs, compared to the 145,000 estimate

- The Unemployment rate dropped to near a 50-yr low of 3.5%

- Wage growth stagnated and manufacturing payrolls declined for the 1st time in 6 months

- The retail and utilities sectors also continued to shed jobs

- The slowing economy could avoid a recession for now despite trade tensions that are hammering manufacturing

The Next Round of U.S.-China Trade Negotiations

- Expected in Washington on Oct. 10-11

- China is reportedly reluctant to agree to a broad US trade deal

- Vice Premier Liu He said his offer to the U.S. will not include commitments on reforming Chinese industrial policy or government subsidies

- These are among the Trump administration’s main demands in the trade talks

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MARKET NEWS

*SMRA*

SMRA will pay off debts that will mature on October 10 with the company's internal cash of IDR 800 billion and the second phase of sukuk ijarah I of IDR 300 billion.

*TINS*

The decline of world tin prices makes TINS to reduce the volume of tin export to the global market, this year TINS targets to export 60,000 tons of tin. While TINS targets to reduce 20% of export volume.

*BBTN*

BBTN prepared a number of corporate actions to maintain the company's capital. The corporate actions include the issuance of debt securities in the form of subdebt at the end of 2019, asset securitization, establishment of subsidiaries and rights issue in 2020. In addition to these corporate actions, BBTN will also spin off Sharia business units (UUS) which will be planned for 2020 to OJK.

Technical Recommendations :

Stock: *BBRI*

Short Term Trend: Bearish

Medium Term Trend: Downtrend

Trade Buy : 3,950

Target Price 1: 4,050

Target Price 2: 4,180

Stop Loss: 3,790

Stock: *INTP*

Short Term Trend: Bearish

Medium Term Trend: Downtrend

Trade Buy : 19,200

Target Price 1: 19,850

Target Price 2: 20,400

Stop Loss: 18,300

Stock: *ISAT*

Short Term Trend: Downtrend

Medium Term Trend: Bearish

Spec Buy : 2,810

Target Price 1: 2,960

Target Price 2: 3,160

Stop Loss: 2,590

Stock: *BWPT*

Short Term Trend: Downtrend

Medium Term Trend: Bearish

Spec Buy: 126

Target Price 1: 134

Target Price 2: 140

Stop Loss: 118

Stock: *ESSA*

Short Term Trend: Downtrend

Medium Term Trend: Bearish

Trade Buy: 250

Target Price 1: 262

Target Price 2: 276

Stop Loss: 238

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