JCI Indication

Bullish (Moderate)

Support / Resistance: 5,979 – 6,120

Market Drivers:
Another fresh record high on Wall Street
- The 3 major indexes have now notched a record close in 5 of the past 8 sessions
- Upbeat comments by President Trump on trade talks eclipsed some softer-than-anticipated economic data
  - Consumer confidence fell for a 4th straight month in November but remained at levels sufficient to support a steady pace of consumer spending
  - New Home Sales unexpectedly dropped in October, although data for the prior month was revised up
  - The S&P Case-Shiller Home Price Index showed price gains accelerated in September
- 3Q19 corporate earnings season that has largely topped lowered expectations
- The dovish turn by the Fed, which has cut interest rates 3 times this year

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MARKET NEWS
PT Campina Ice Cream Industry Tbk in early 2020 is ready to increase ice cream production to 30 percent through new machine investment. The Campina production capacity is currently around 30 million liters / year, with a production level of 25 million-26 million liters / year.

PT Mark Dynamics Indonesia Tbk. eyeing a double-digit sales increase in 2020, along with new capacity that has been fully operational and opportunities for the US-China trade war. The company has a sales target of around IDR420 billion next year.

Property company PT Bumi Serpong Damai Tbk. recorded an increase in operating income of 9.25% and net profit of 119.37%. land and building sales were the main contributors with a contribution of IDR 3.74 trillion, an increase of 19.87% from last year's realization of IDR 3.12 trillion.

Sales of PT United Tractors Tbk. in October 2019, it was the lowest compared to the realization so far this year. Realization of sales in October 2019 compared to the previous month's sales recorded a correction of 16% from 209 units in September 2019. Meanwhile, compared to October 2018, it recorded a correction of 66% from 500 units.

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Technical Recommendations :

Stock: *ADHI*
Short Term Trend: Downtrend
Medium Term Trend: Bearish
Spec Buy: 1,180
Target Price 1: 1,220
Target Price 2: 1,255
Stop Loss: 1,155

Stock: *TPIA*
Short Term Trend: Sideways
Medium Term Trend: Bullish
Trade Buy : 9,100
Target Price 1: 9,350
Target Price 2: 9,600
Stop Loss: 8,675

Stock: *KINO*
Short Term Trend: Downtrend
Medium Term Trend: Bearish
Spec Buy : 3,500
Target Price 1: 3,600
Target Price 2: 3,740
Stop Loss: 3,320

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