JCI Indication

Bullish (Moderate)

Support / Resistance: 6,089 – 6,171

Market Drivers:
A Sell-Off on Wall Street
- DJIA's third day of decline
- Investors turned to safe-haven assets, boosting bond prices and sending gold to a 1-month high

U.S. - China Trade War
- President Trump: A trade deal with China might have to wait until after the 2020 presidential election
- Commerce Secretary Wilbur Ross: No high-level meetings are scheduled
  - The parties still needed to sort out details about Chinese purchases of U.S. farm products and an enforcement mechanism.
- Tariffs on remaining USD156 bn Chinese imports will take effect on Dec 15
  - Potentially the most damaging, since they directly target consumer goods, including cell phones, laptop computers and toys

Economic Calendar for Today
- Australia: 3Q19 GDP 
- China: Caixin Services PMI (November)

------------------------------------------------

MARKET NEWS
PT Wijaya Karya (Persero) Tbk. obtained a Goree Tower Project construction work contract in Senegal, West Africa with a value of the first phase of 50 million Euros out of a total of 250 million Euros.

PT Profesional Telekomunikasi Indonesia or Protelindo, a subsidiary of PT Sarana Menara Nusantara Tbk. (TOWR) obtained a loan of Rp650 billion from HSBC Bank to meet general funding requirements.

PT Erajaya SwasembadaTbk (ERAA) added 15 outlets through its three subsidiaries, PT Erafone Artha Retailindo (EAR), PT Data Citra Mandiri (DCM) and PT Nusa Abadi Sukses Artha (NASA).

PT Darma Henwa Tbk. (DEWA) will develop the engineering, procurement and construction (EPC) business line. The company said that not many of its competitors have developed this business unit in Indonesia. several mining projects that are currently being targeted by DEWA also require EPC.

-------------------------------------------------

Technical Recommendations :

Stock: *WIKA*
Short Term Trend: Downtrend 
Medium Term Trend: Bearish
Spec Buy: 1,810
Target Price 1: 1,885
Target Price 2: 1,950
Stop Loss: 1,705

Stock: *SMGR*
Short Term Trend: Downtrend
Medium Term Trend: Bearish
Spec Buy : 11,725
Target Price 1: 12,100
Target Price 2: 12,450
Stop Loss: 11,250

Stock: *CPIN*
Short Term Trend: Sideways
Medium Term Trend: Sideways
Trade Buy : 7,000
Target Price 1: 7,350
Target Price 2: 7,600
Stop Loss: 6,625

Stock: *DOID*
Short Term Trend: Downtrend
Medium Term Trend: Bearish
Trade Buy : 260
Target Price 1: 274
Target Price 2: 286
Stop Loss: 244

*Disclaimer on | Customer Care: 021-57900900. www.poems.co.id

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