JCI Indication

Bullish (Moderate)

Support / Resistance: 6,101– 6,204

Market Drivers:

US-China Trade Negotiation
- Talks are getting held up because of disagreements on a number of issues
- The U.S. is trying to secure stronger concessions from China to regulate IP protections and to stop the practice of forced tech transfer
- The WSJ: China is hesitant to commit to a specific amount of agricultural products in the text of a potential deal

Fed Chairman Jerome Powell
- The Fed is unlikely to adjust interest rates anytime soon so long as the economy remains on its present path
  - The labor market remains strong, incomes are rising and consumer confidence continues to grow
- The Fed has cut its FFR three times this year to a range of 1.5%-1.75%
- Cautioned that challenges remain, such as weakness abroad, trade tensions and low inflation

Japan 3Q19 GDP (Preliminary)
- Grew 0.2% Y/Y (+0.1% Q/Q), slowing sharply from a 1.8% (Y/Y) expansion in 2Q19
- Private consumption grew 0.4%, slowing from a 0.6% increase in 2Q19
- Capital spending, a rare bright spot in the economy, rose 0.9%, accelerating from previous quarter

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MARKET NEWS
MDLN cooperates with four Sharia Banks to develop a halal industrial area that is Modern Halal Valley in ModernCikande. Modern Halal Valley is an industrial estate developed on 500 hectares of land.

TBIG until September 2019 absorbed capital expenditure of Rp 1.5 trillion. This capital expenditure was used to realize the construction of 484 new towers and 2,094 collocations.

The total distribution of Micro Community Business Credit (KUR) of PT Bank Mandiri Tbk (BMRI) until the end of October 2019 has reached Rp20.12 trillion. Or equal to 80.51% of the company's target in 2019 of Rp20 trillion. Most of the loans were distributed to the production sector in the amount of Rp.10.09 trillion or 50.14% of the total lending.

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Technical Recommendations :

Stock: *PTPP*
Short Term Trend: Downtrend
Medium Term Trend: Bearish
Spec Buy: 1,560
Target Price 1: 1,660
Target Price 2: 1,740
Stop Loss: 1,515

Stock: *RALS*
Short Term Trend: Downtrend
Medium Term Trend: Bearish
Spec Buy : 1,150
Target Price 1: 1,185
Target Price 2: 1,225
Stop Loss: 1,115

Stock: *WIKA*
Short Term Trend: Downtrend
Medium Term Trend: Bearish
Spec Buy : 1,925
Target Price 1: 2,000
Target Price 2: 2,080
Stop Loss: 1,870

Stock: *MYOR*
Short Term Trend: Downtrend
Medium Term Trend: Bearish
Spec Buy : 2,150
Target Price 1: 2,200
Target Price 2: 2,260
Stop Loss: 2,090

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