JCI Indication

Bullish (Moderate)

Support / Resistance: 6,118– 6,213

Market Drivers:

US-China trade uncertainty
- Growing worries trade talks are stalling
- President Trump failed to deliver any new information about when the two countries would sign a trade deal
- Trump also rattled some investors by threatening China with even more tariffs if they do not sign a deal
- Fed Chairman Jerome Powell is due to testify on the U.S. economic outlook before the congressional Joint Economic Committee

IEA World Energy Outlook 2019
- Economic growth and a rising global population means that renewable energy sources can’t keep up with worldwide energy demand
- Oil output is expected to keep rising over the next decade with 85% of the increase in production coming from the U.S.
- Oil demand will begin to slow markedly after 2025 thanks to rising fuel efficiency and a transition to electric vehicles

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MARKET NEWS
PT Indo Tambangraya Megah Tbk. (ITMG) disbursed funds amounting to IDR3.24 bn for exploration in October 2019 to evaluate coal reserves.

PT Indonesia Vehicle Terminal Tbk. recorded an increase in finished vehicle export activity by 28.4 percent in October 2019. From January 2019 to October 2019, the number of completely built up vehicles (CBU) handled by the company was 336,737 units, or an increase of 18.85 percent compared to the same period last year 283,324 the unit.

PT Merdeka Copper Gold Tbk. continue exploration activities in three regions in Indonesia with a total budget of IDR37 bn in October 2019. Activities in the Seven Hills area are focused on copper and gold porphyry resources, in the Wetar Island area focused on copper resources, while in the Pani area the focus is on gold resource exploration.

PT Cikarang Listrindo Tbk. projecting the company's net profit to grow 30% until the end of 2019. Based on financial statements as of September 2019, POWR recorded a current year's net profit of US $ 78.54 million, an increase of 29.58 percent compared with US $ 60.61 million as of September 2018.

Technical Recommendations :

Stock: *HMSP*
Short Term Trend: Sideways
Medium Term Trend: Bearish
Trade Buy: 2,110
Target Price 1: 2,190
Target Price 2: 2,330
Stop Loss: 1,990

Stock: *BBRI*
Short Term Trend: Downtrend
Medium Term Trend: Sideways
Spec Buy : 4,000
Target Price 1: 4,140
Target Price 2: 4,260
Stop Loss: 3,890

Stock: *PWON*
Short Term Trend: Downtrend
Medium Term Trend: Bearish
Spec Buy : 585
Target Price 1: 610
Target Price 2: 635
Stop Loss: 560

Stock: *LPCK*
Short Term Trend: Downtrend
Medium Term Trend: Sideways
Trade Buy : 1,250
Target Price 1: 1,350
Target Price 2: 1,360
Stop Loss: 1,205

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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