JCI Indication

Bearish (Moderate)

Support / Resistance: 6,163 – 6,215

U.S. - China Trade War
- WSJ: The U.S. and China are taking steps to delay the next round of American tariffs
  - 15% tariffs on about USD160 bn in Chinese goods are set to take effect on Sunday
  - It is unclear how long the U.S. could hold back on imposing this round of tariffs
- Chinese imports of American soybeans between September and November this year increased 13 times from the same period last year
  - U.S. soybean exports to China essentially dwindled in the 2H19 after Beijing retaliated to U.S. tariffs with its own 30% duties

FOMC Meeting
- The Fed’s final interest rate decision for the year
- With expectations that the Fed will keep the rate on hold.


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MARKET NEWS
PT Blue Bird Tbk. will continue its expansion in vehicles with renewable energy as its fleet next year. Electric taxis are still part of the company's capex next year there are 200 additional units that we will buy in 2020.The company will disburse investments up to US $ 8 million for the addition of 200 units of electric taxis by 2020.

PT Surya Semesta Internusa Tbk. target sales of 25 hectares of industrial land in 2020. The target increased 66.66 percent compared to the target in 2019 of 15 hectares.

PT Metropolitan Land Tbk. has booked marketing sales of IDR1.57 trillion during January-November 2019 or 78.5% of the 2019 target. MTLA still has to look for marketing at IDR430 billion to meet the company's target this year, which is IDR2 trillion.

Property issuer PT Modernland Realty Tbk. will diversify segmentation by targeting the middle and lower middle class market in 2020. This is done with the launch of a new township at a price of less than Rp1 billion.

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Technical Recommendations :

Stock: *INCO*
Short Term Trend: Sideways
Medium Term Trend: Bearish
Trade Buy: 3,200
Target Price 1: 3,290
Target Price 2: 3,370
Stop Loss: 3,130

Stock: *BEST*
Short Term Trend: Uptrend
Medium Term Trend: Bearish
Trade Buy : 212
Target Price 1: 226
Target Price 2: 238
Stop Loss: 198

Stock: *EXCL*
Short Term Trend: Downtrend
Medium Term Trend: Sideways
Spec Buy : 3,300
Target Price 1: 3,380
Target Price 2: 3,460
Stop Loss: 3,220

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