C lo sing 1-D ay C hg () YT D C hg ()

  Monday, November 12, 2018

  ID X S t a t is t ic s C lo s ing Volume JCI Index

  7,000 20,000

  JCI 5,874.15

  Transactio n Value Regular M arket (IDR tn) 6.665

  6,000 15,000

  Transactio n Vo lume Regular M arket (mn shares) 6,539

  5,000 10,000

  Fo reign Net B uy (Sell) (IDR bn) (43)

  4,000 5,000

  Fo reign Net B uy (Sell) (3.50) To tal M arket Capitalizatio n (IDR tn) 6,663.90

  3,000 Y T D O t he r Indic e s C lo s ing 1- D a y C hg ( %) C hg ( %) IHSG turun sebanyak 102.7 poin (1.72%) ke level 5874.15.

  LQ45 931.01 (2.55) (13.75)

  Sementara LQ45 turun sebanyak 24.4 poin (2.55%) ke level 931.01. Foreign net sell sebesar Rp 42.94 miliar. EIDO

  22.98 (2.71) (19.17)

  IDX 20.57 (2.23) (17.19) DOW JONES 25,989.30 (0.77)

  5.14 S&P 500 2,781.01 (0.92)

  4.02 NA SDA Q 7,406.90 (1.65)

  7.29 Today’s Market: FTSE 7,105.34 (0.49) (7.58)

  

 IHSG diperkirakan bergerak melemah. Bursa AS ditutup NIKKEI 22,250.25 (1.05) (2.26)

melemah pada perdagangan Jumat (09/11). Harga batu-

  HA NG SENG 25,601.92 (2.39) (14.43)

  bara stabil di level USD 105.90 per Mt. Crude oil stabil di

  STRA ITS TIM ES 3,077.97 (0.49) (9.55)

  level USD 60.77 per barrel. Rupiah bergerak melemah ter-

  KLSE 1,708.09 (0.77) (4.94)

  hadap Dollar AS ke level Rp 14.678. 10Yr Government Bonds Yield turun ke level 8.14%.

  Y T D C urre nc y S po t R a t e R a t e ( ID R ) 1- D a y C hg ( %)  Dari dalam negeri, Bank Indonesia merilis data Current

  C hg ( %) Account Deficit (CAD) kuartal-III 2018 sebesar 3,37% ter-

  USD/IDR 14,678.00

  0.00

  7.56 hadap GDP. EUR/IDR 16,625.13

  0.60

  2.57

   Dari dalam negeri, Bank Indonesia (BI) mencatat transaksi

  JP Y/IDR 129.05

  0.69

  6.71

  lindung nilai atau domestic on-delivery forward (DNDF)

  SGD/IDR 10,663.20

  0.41

  5.00

  yang diberlakukan sejak 1 November 2018 mulai diminati

  A UD/IDR 10,624.41

  0.72

  0.38

  oleh perbankan, korporasi, dan investor luar negeri dengan volume transaksi hedging saat ini mencapai US$

  GB P /IDR 19,028.78 (0.10)

  3.78 115 juta.

  

 Sehubungan dengan emiten, Indo Tambangraya Megah La s t Y T D

C o m m o dit ie s P ric e T ra ns a c t io n C hg ( %)

  (ITMG) mencatatkan penjualan USD 1,4 miliar (+21,6% YoY) hingga akhir kuartal-III 2018, laba bersih tercatat

  Crude Oil (USD/barrel) 60.77 7:55:24 A M

  0.53

  sebesar USD 197 juta (+14,5% YoY). Hasil tersebut se-

  Co al (USD/mn to ns) 105.90 11/9/2018

  5.06 jalan dengan ekpektasi kami dan konsensus. Natural Gas (USD/mmB tu) 3.77 7:55:22 A M

  27.57

   Secara teknikal indeks hari Senin (12/11), IHSG diprediksi

  Go ld (USD/o unce) 1,209.55 8:05:25 A M (7.16) bergerak di kisaran 5815-5920. Nickel (USD/mn to ns) 11,470.00 11/9/2018 (10.11) Tins (USD/mn to ns) 19,150.00 11/9/2018 (4.37) CP O (M YR/mn to ns) 1,880.00 11/9/2018 (23.08) Rubber (JP Y/kg) 138.20 7:33:17 A M (32.72) Wheat (USD/bushel) 502.00 11/9/2018

  17.56 Co rn (USD/bushel) 369.75 11/9/2018

  5.42 See pg. 6-8 for Technical Corner

  Source: Bloomberg, Sinarmas Investment Research See important disclaimer at the end of this report www.sinarmassekuritas.co.id

  1

  Daily Corporate and Industry News

Pertumbuhan industri pengolahan nonmigas (manufaktur) diprediksi mencapai 5,3% pada 2019, lebih besar dari es-

timasi tahun ini sebesar 5%. Setelah laju pertumbuhan industri sejak 2012 di bawah pertumbuhan produk domestik

bruto (PDB) nasional maka tahun depan sudah bisa sama. Source: Investor Daily

Pemerintah yakin ekspor jasa akan bertumbuh 7%—10% pada 2019 dari target realisasi tahun ini senilai US$29,13

miliar dengan defisit neraca jasa diyakini berkurang pada tahun depan. Source: Bisnis Indonesia

Menteri Ketenagakerjaan Hanif Dhakiri mengatakan, tingkat pengangguran terbuka turun dari tahun ke tahun.

  

Jumlah pengangguran terbuka pada 2015 sebanyak 6,18%, kemudian pada 2016 sebesar 5,61%, 2017 sebesar

5,5% dan 2018 sebanyak 5,34%. Diakui pengangguran lulusan SMK memang paling tinggi yakni 11,24% pada 2018,

namun demikian dari tahun ke tahun persentasenya mengalami penurunan. Source: Investor Daily

Harga minyak turun 4,67% sepekan terakhir. Harga minyak jenis West Texas Intermediate (WTI) kontrak pengi-

riman Desember 2018 di New York Mercantile Exchange berada di US$ 60,19 per barel pada perdagangan Jumat

(9/11) lalu. Ini merupakan posisi terendah sejak Maret 2018. Minyak jenis Brent kontrak pengiriman Januari 2019 di

  

ICE Futures. Pada Jumat lalu, harga minyak jenis ini bertengger di US$ 70,18 per barel. Posisi ini melemah 3,64%

dan yang terendah sejak April 2018. Source: Kontan

Bank Indonesia (BI) mencatat transaksi lindung nilai atau domestic on-delivery forward (DNDF) yang diberlakukan

sejak 1 November 2018 mulai diminati oleh perbankan, korporasi, dan investor luar negeri dengan volume transaksi

hedging saat ini mencapai US$ 115 juta. Source: Investor Daily

Berdasarkan data Otoritas Jasa Keuangan per September 2018, aset 13 bank besar mencapai Rp5.516 triliun atau

naik 8,3% secara tahunan (year-on-year/yoy). Adapun, secara industri, aset perbankan tumbuh 8,6% menjadi

Rp7.768,9 triliun. Berdasarkan data Otoritas Jasa Keuangan per September 2018, aset 13 bank besar mencapai

Rp5.516 triliun atau naik 8,3% secara tahunan (year-on-year/yoy). Adapun, secara industri, aset perbankan tumbuh

8,6% menjadi Rp7.768,9 triliun. Source: Bisnis Indonesia

Menteri Koordinator Bidang Perekonomian Darmin Nasution mengatakan, perlu sedikit lagi waktu untuk memperbaiki

defisit transaksi berjalan (current account deficit/CAD). Menurutnya melebarnya CAD pada kuartal III-2018 lebih

disebabkan kebijakan pemerintah yang belum berjalan optimal, diantaranya terkait dengan implementasi program

biodiesel 20% (B20). Source: Investor Daily

Indosat (ISAT) mendapatkan peringkat idAAA dari PT Pemeringkat Efek Indonesia (Pefindo) atas obligasi Berkelanju-

tan Tahap III Tahun 2015 sebesar Rp 201 miliar. Obligasi tersebut akan jatuh tempo pada 8 Desember 2018.

Source: Investor Daily

Perusahaan Gas Negara (PGAS) memastikan segera mengakuisisi empat anak usaha PT Pertamina Gas (Pertagas).

Hal ini sejalan dengan rencana integrasi PGAS dan Pertagas dalam Holding BUMN Migas di bawah kendali PT Per-

tamina. Keempat anak usaha tersebut adalah PT Perta Arun Gas, PT Perta Daya Gas, PT Perta-Samtan Gas dan PT

Perta Kalimantan Gas. Source: Kontan

Sinar Mas Agro Resources and Technology (SMAR) membukukan pertumbuhan penjualan biodiesel 50% dalam peri-

ode 9 bulan pertama 2018. Namun, belum bisa menahan penurunan laba bersih akibat tekanan kurs dan lesunya

harga CPO. Source: Bisnis Indonesia.

Indo Tambangraya Megah (ITMG) mencatatkan penjualan USD 1,4 miliar (+21,6% YoY) hingga akhir kuartal-III

2018, laba bersih tercatat sebesar USD 197 juta (+14,5% YoY). Source: Company

PT Pool Advista Finance berpeluang meraup dana hasil penawaran umum perdana (initial public offering/IPO) saham

senilai Rp 108 miliar. Pekan lalu, perseroan telah mendapat izin efektif dari Otoritas Jasa Keuangan (OJK), dan me-

nyelesaikan masa penawaran awal (bookbuilding) dengan menetapkan harga pelaksanaan IPO sebesar Rp 135 per

saham. Source: Investor Daily

  See important disclaimer at the end of this report www.sinarmassekuritas.co.id

  2

  3 World Equity Indices Source: Bloomberg, Sinarmas Investment Research www.sinarmassekuritas.co.id See important disclaimer at the end of this report WO R LD E Q UIT Y IN D IC E S N O T IC KE R

  15.91

  9.00

  8.60

  1.46 1.62 7,169.21

  54.15

  26 NKY Index 24,448.07 20,347.49 (514.69) (2.26)

  19.36

  1.89 1.89 375,865.64 3,303.15

  25 KSE100 Index 47,144.12 36,274.25 917.40

  27 NEY Index 376.09 317.49 (23.23) (6.50)

  16.05

  12.09

  1.38 1.38 423,760.94 3,724.06

  28 TP X Index 1,911.31 1,581.56 (144.58) (7.95)

  16.35

  13.13

  2.27

  3.39 3.48 4,242,245.37 287.73

  29 FB M KLCI Index 1,896.03 1,657.78 (88.72) (4.94)

  23.84

  3.23

  24.56

  19.64

  3.29 3.30 62,899.28 865.96

  22 NIFTY Index 11,760.20 9,951.90

  54.50

  0.52

  18.79

  16.15

  3.23 3.23 77,318.74 1,064.48

  23 JCI Index 6,693.47 5,557.56 (481.50) (7.58)

  24.58

  15.44

  2.58 2.64 6,663,903.34 451.97

  24 LQ45 Index 1,132.92 871.05 (148.38) (13.75)

  21.16

  1.41 1.41 629,362.87 5,530.92

  16.68

  1.05 1.09 10,735.44 1,370.80

  2.08 2.03 16,990.73 513.53

  34 TWSE Index 11,270.18 9,400.69 (812.85) (7.64)

  15.55

  12.82

  1.75 1.80 27,993.39 909.32

  35 SET Index 1,852.51 1,584.68 (85.19) (4.86)

  18.91

  15.23

  36 SET50 Index 1,223.67 1,043.32 (32.37) (2.85)

  8.64

  17.52

  15.16

  2.26 2.24 11,590.55 350.32

  37 VNINDEX Index 1,211.34 859.24 (69.95) (7.11)

  18.97

  15.53

  2.81 2.71 2,937,735.97 126.06

  1.05 1.03 1,350,334.16 1,193.89

  12.81

  16.62

  86.74

  1.67 1.65 1,071.13 256.01

  30 NZSE Index 1,652.90 1,433.28

  52.33

  3.46

  19.27

  20.83

  2.03 2.05 128.75

  31 P COM P Index 9,078.37 6,790.58 (1,589.60) (18.57)

  33 KOSP I Index 2,607.10 1,985.95 (381.40) (15.46)

  23.05

  16.32

  2.51 2.52 8,776.31 165.12

  32 FSSTI Index 3,641.65 2,955.68 (324.95) (9.55)

  11.06

  12.57

  1.22 1.23 537.63 389.98

  21 SENSEX Index 38,989.65 32,483.84 1,101.72

  8.06

  1 INDU Index 26,951.81 23,242.75 1,270.08

  1.97 1.99 1,956.96 2,539.35

  18.43

  13.53

  1.67 1.69 2,825.64 3,202.01

  7 UKX Index 7,903.50 6,851.59 (582.43) (7.58)

  23.29

  12.65

  8 CA C Index 5,657.44 4,896.80 (205.81) (3.87)

  5 M EXB OL Index 46,975.18 42,816.75 5,347.09 262.45

  18.44

  13.64

  1.67 1.68 1,521.70 1,724.39

  9 DA X Index 13,596.89 11,051.04 (1,388.48) (10.75)

  19.35

  12.66

  1.86 1.84 1,104.77 1,251.92

  6 SX5E Index 3,687.22 3,090.85 (274.47) (7.83)

  1.91 1.86 2,339.14 1,769.13

  15.10

  16.98

  5.14

  20.65

  16.29

  3.88 4.01 7,214.71 7,214.71

  2 SP X Index 2,940.91 2,532.69 107.40

  4.02

  22.31

  3.30 3.34 24,319.19 24,319.19

  14.46

  3 CCM P Index 8,133.30 6,630.67 503.51

  7.29

  40.35

  21.55

  3.00 3.00 11,543.17 11,543.17

  4 SP TSX Index 16,586.46 14,639.70 (934.69) (5.77)

  19.80

  10 IB EX Index 10,643.40 8,627.60 (909.10) (9.05)

  12.12

  9.19

  18 SZA SHR Index 2,140.56 1,267.27 (597.72) (30.09)

  16.49

  11.02

  2.05 2.07 25,137.32 3,613.29

  17 SHA SHR Index 3,757.20 2,564.94 (741.92) (21.42)

  16.90

  10.62

  1.80 1.81 27,753.47 3,989.35

  29.07

  2.00 2.02 1,916.67 1,385.37

  15.23

  3.12 3.03 17,186.75 2,470.46

  19 HSI Index 33,484.08 24,540.63 (4,317.23) (14.43)

  13.71

  10.72

  1.39 1.40 16,547.24 2,112.91

  20 HSCEI Index 13,962.53 9,902.62 (1,277.84) (10.91)

  16 SHSZ300 Index 4,403.34 3,009.50 (863.42) (21.42)

  15.22

  1.47 1.50 569.03 644.83

  13 SM I Index 9,616.38 8,372.90 (307.84) (3.28)

  11 FTSEM IB Index 24,544.26 18,411.43 (2,595.23) (11.88) 929.29

  10.61

  1.18 1.18 459.61 520.83

  12 A EX Index 576.90 500.45 (15.03) (2.76)

  18.91

  14.21

  1.91 1.94 646.43 732.54

  24.59

  18.90

  16.13

  2.59 2.69 1,104.70 1,098.66

  14 A S51 Index 6,373.50 5,624.60 (143.28) (2.36)

  17.96

  15.10

  2.08 2.11 1,771.71 1,280.59

  15 A S30 Index 6,481.30 5,721.60 (156.27) (2.53)

  A s ia / P a c if ic A m e ric a 5 2 - WE E K C H A N G E Y T D P E R ( x) P B V ( x) M A R KE T C A P ( B n) E uro pe H IG H LO W P O IN T % 2 0 17 2 0 18 E 2 0 17 2 0 18 E D o m a in C urre nc y US D

  4 LQ45 Source: Bloomberg, Sinarmas Investment Research www.sinarmassekuritas.co.id See important disclaimer at the end of this report LQ45 Index HIGH LOW POINT % 2017 2018E 2017 2018E

  32 PTPP IJ 1,565 3,280 1,330 (1,075) (40.72)

  0.99 0.95 51,149.58

  31 PTBA IJ 4,330 4,940 2,135 1,870

  76.02

  5.79

  10.16

  1.91 3.54 49,884.45

  11.26

  20.77

  5.87

  1.43 0.75 9,702.84

  33 PWON IJ 545 725 432 (140) (20.44)

  17.62

  11.96

  3.20 2.18 26,246.98

  11.93

  20.57

  27.24

  27 LPPF IJ 5,275 11,975 4,350 (4,725) (47.25)

  32.96

  26.27 5.96 66,562.67

  26 LPKR IJ 282 650 256 (206) (42.21)

  18.08

  6.99

  0.49 0.28 6,510.58

  15.29

  30 PGAS IJ 2,110 2,860 1,505 360

  7.00 12.53 15,392.02

  28 MNCN IJ 805 1,665 700 (480) (37.35)

  11.78

  7.52

  1.86 1.14 11,492.26

  29 MYRX IJ 123 198 101

  13 11.82 - - - - 10,664.50

  34 SCMA IJ 1,730 2,980 1,490 (750) (30.24)

  16.73

  3.08 1.77 28,958.91

  1.10 0.76 10,808.79

  42 UNVR IJ 40,325 58,100 40,125 (15,575) (27.86)

  60.89

  42.53 82.44 307,679.75

  43 WIKA IJ 1,205 2,190 1,095 (345) (22.26)

  11.55

  7.21

  44 WSBP IJ 332 510 314 (76) (18.63)

  17.84

  10.56

  7.20

  1.47 0.96 8,751.90

  45 WSKT IJ 1,575 3,150 1,415 (635) (28.73)

  7.22

  4.68

  2.14 1.14 21,378.90

  12.20 2.91 130,181.72

  41 UNTR IJ 34,900 40,500 30,775 (500) (1.41)

  9.30 5.21 25,295.37

  13.35

  35 SMGR IJ 9,725 11,775 6,500 (175) (1.77)

  29.14

  20.06 2.03 57,684.03

  36 SRIL IJ 360 396 302 (20) (5.26) 7.26 - 1.18 - 7,362.78

  37 SSMS IJ 1,195 1,520 1,005 (305) (20.33)

  17.92

  3.54 2.50 11,382.38

  40 TRAM IJ 194 432 139 (4) (2.02) - - - - 9,628.94

  38 TLKM IJ 3,920 4,419 3,250 (520) (11.71)

  19.86

  17.68 4.74 388,323.89

  39 TPIA IJ 4,850 6,675 4,300 (1,150) (19.17)

  23.81

  29.90

  4.74 3.32 86,492.57

  25 KLBF IJ 1,420 1,785 1,155 (270) (15.98)

  21.11

  1 ADHI IJ 1,310 2,510 1,100 (575) (30.50)

  8 BBRI IJ 3,340 3,920 2,720 (300) (8.24)

  9.59

  23.17

  20.45 4.11 591,720.22

  7 BBNI IJ 8,000 10,175 6,675 (1,900) (19.19)

  13.56

  9.47 1.87 149,189.25

  15.34

  13.82 2.72 330,953.05

  11.62 2.67 411,975.01

  9 BBTN IJ 2,350 3,890 2,010 (1,220) (34.17)

  12.49

  6.98 1.75 24,886.50

  10 BJBR IJ 1,930 2,490 1,695 (470) (19.58)

  19.20

  12.45

  6 BBCA IJ 24,000 25,475 20,350 2,100

  17.83

  11 BMRI IJ 7,225 9,050 6,175 (775) (9.69)

  1.26 0.89 50,537.82

  13.02

  5.83

  1.15 0.70 4,664.71

  2 ADRO IJ 1,580 2,650 1,565 (280) (15.05)

  9.06

  7.65

  3 AKRA IJ 3,430 7,375 3,220 (2,920) (45.98)

  5 ASII IJ 8,175 8,750 6,100 (125) (1.51)

  28.11

  13.39

  3.37 1.67 13,770.40

  4 ANTM IJ 700 1,015 600

  75 12.00 -

  23.36

  0.81 0.91 16,821.54

  2.31 1.80 18,713.84

  20.93

  24 JSMR IJ 3,990 6,775 3,920 (2,410) (37.66)

  21 INDF IJ 5,775 8,125 5,500 (1,850) (24.26)

  19 ICBP IJ 8,575 9,275 7,900 (325) (3.65)

  27.31

  21.12 5.31 100,000.86

  20 INCO IJ 3,300 4,720 2,570 410 14.19 -

  24.87

  1.16 1.18 32,789.92

  16.11

  43.54

  12.05 2.15 50,706.96

  22 INDY IJ 2,570 4,630 2,120 (490) (16.01)

  3.50

  4.59

  1.27 0.92 13,390.19

  23 INTP IJ 17,650 23,400 12,500 (4,300) (19.59)

  43.45 3.29 64,973.74

  28.87 16.13 395,481.46

  18 HMSP IJ 3,400 5,550 3,230 (1,330) (28.12)

  12.35 2.24 337,166.67

  6.61

  12 BMTR IJ 308 755 308 (282) (47.80) - - 0.88 - 4,373.18

  13 BRPT IJ 1,835 2,720 1,510 (425) (18.81)

  21.82

  20.74

  2.16 1.26 32,647.56

  14 BSDE IJ 1,200 1,965 930 (500) (29.41)

  9.73 1.29 23,096.04

  16.25 3.82 149,116.82

  15 BUMI IJ 182 356 162 (88) (32.59)

  2.57 2.06 - - 11,916.52

  16 EXCL IJ 2,270 1,710 (690) (23.31)

  85.16

  24.35 1.46 24,261.67

  17 GGRM IJ 77,500 86,400 66,125 (6,300) (7.52)

  20.80

  MARKET CAP (Bn) LQ45 Index CHANGE YTD PER (x) PBV (x) 9-Nov-18 52-WEEK

  Macro data S e c t o rs D e s c ript io n 1- D a y ( %) 5 - D a ys ( %) 1- M o nt h ( %) Y T D ( %)

  P ro perty (1.51)

  1.25 3.04 (15.88) B asic Industry (0.44) 0.03 (0.10)

  8.76 Trade (0.03)

  2.83 1.13 (12.80) Finance (1.31)

  0.36 6.64 (2.98) M iscellaneo us Industry (0.42)

  0.12 14.96 (1.03) Co nsumer (5.08) (4.79) (4.76) (19.16) Infrastructure (0.52) (0.41) 2.42 (10.64) A griculture (0.28) (2.89) (2.03) (7.74) M ining (1.13) 0.90 (3.45)

  16.68 E c o no m ic Indic a t o rs

  E c o no m ic P a ra m e t e rs O c t - 18 S e p- 18

  Inflatio n YTD (in %)

  2.22

  3.61 Inflatio n Yo Y (in %)

  3.16

  2.88 Inflatio n M o M (in %) 0.28 -0.18

  Fo reign Reserves (in USD bn) 115.20 114.85

  F O R E X S po t R a t e 1- D a y ( %) 1- M o nt h ( %) Y T D ( %)

• USD/IDR 14,678.00 3.82 (7.56)

  USD/CNY 6.96 (0.32) (0.49) (6.47) USD/EUR

  0.88

  0.07

  2.05

  5.98 USD/JP Y 113.94 (0.10) (1.52) (1.10) USD/SGD

  1.38 0.02 (0.04) (3.10) USD/A UD 1.38 (0.01) (1.60)

  8.01 USD/GB P

  0.77

  0.25

  1.63

  4.38 Le nding a nd D e po s it R a t e s

  

( in %)

  JIB OR (in IDR)

  7.63 LIB OR (in GB P )

  1.16 SIB OR ( in USD)

  1.46 Indo nesia 5-Year Go vernment B o nds Yield

  7.98 Indo nesia 10-Year Go vernment B o nds Yield

  8.14 Indo nesia 15-Year Go vernment B o nds Yield

8.40 Source: Bloomberg, Sinarmas Investment Research

  See important disclaimer at the end of this report www.sinarmassekuritas.co.id

  5

  Te ch n ica l Cor n e r JCI : M ELEM AH Last price : 5.874 Support : 5.848, 5.815 Resist ance : 5.920, 5.956

JCI pada hari ini kam i perkirakan akan bergeraK M ELEM AH dengan Range 5.815 — 5.920. JCI akan m encoba

break Support Trendline 5 .848 dan k am i perkirakan akan berhasil break Support Trendline 5.848 dan m encoba

Support 5.815 dan 5.769. I ndikat or St oc Osc yang m engindikasikan pola Downt rend. Sedangkan indikat or MACD

m asih m engindikasikan Upt rend.

  Ja k a r t a Com posit e I n de x ( JCI ) Su m m a r y of por t folio: Stock Recommendation Comment

  TLKM HOLD Candle chart m em bent uk Pola Black Marobasu. ADRO HOLD St oc Osc m engindikasikan Pola Deat h Cross.

  KLBF BUY ON WEAKNESS Candle chart membentuk Pola White Spinning Top SMGR HOLD Macd mengindikasikan Pola Uptrend. ^{2018 Feb Mar Apr May Jun Jul Aug Sep Oct Nov 5,600 5,700 5,800 5,900 6,000 6,100 6,200 6,300 6,400 6,500 6,600 6,700 5868 5921 5848 5815 5956 5769 5982 6026 6086 5891 COMPOSITE - Daily 11/9/2018 Open 5976.81, Hi 5936.03, Lo 5859.09, Clos e 5874.15 (-1.7%) MA(Clos e,50) = 5,845.79 5,874.15 5,845.79 2018 Feb Mar Apr May Jun Jul Aug Sep Oct Nov -100 100 COMPOSITE - MACD(12,26) = 23.71, Signal(12,26,9) = 6.83 23.7124 6.82563 20 80 COMPOSITE - Stoch %K(15,3) = 85.25, Stoch %D(15,3,3) = 90.56 85.2545 90.5563 COMPOSITE - RSI(15) = 51.78}

  _{TLKM - Daily 11/9/2018 4:14:00 PM Open 3960, Hi 3960, Lo 3920, Clos e 3920 (-2.0%) MA(Clos e,50) = 3,632.00} Te le k om u n ik a si I n don e sia ( Pe r se r o) Tbk ( TLKM ) _{4030 4110 4,000 4,100 4,200 3810 3,800 3830 3890} 3950 _{3,632 3,920 3,700 3,600 3,900 TLKM - MACD(12,26) = 88.83, Signal(12,26,9) = 71.23 Feb Mar Apr May Jun Jul Aug Sep Oct Nov 88.8317 100 71.2349 3,400} 3,500 _{3,300 50 TLKM - Stoch %K(15,3) = 95.06, Stoch %D(15,3,3) = 94.88 TLKM - RSI(15) = 59.28 Feb Mar Apr May Jun Jul Aug Sep Oct Nov 94.8817 95.0617 20 -100 70 80} -50 TLKM : H OLD Last price : 3.920

Suppor t : 3.890, 3.830

Target price : 4.030 ( 3.6% )

Resist ance : 4.000, 4.030

St op Loss : 3.810 ( - 2.1% )

TLKM belum berhasil br eak Resist ance 4.000, dan berpeluang m elanj ut kan pelem ahan dengan m enguj i Support 3.890

dan 3.810. Yang perlu diper hat ikan Support 3.810 sebagai level St op Loss. TLKM dilihat I ndikat or MACD m engindikasi-

kan pola Overbought dan St oc Osc m engindikasikan pola Deat h Cross. _{ADRO - Daily 11/8/2018 4:14:00 PM Open 1620, Hi 1625, Lo 1595, Clos e 1610 (0.9%) MA(Clos e,50) = 1,742.30} Ada r o En e r gy Tbk ( AD RO) _{2,300 2,400 2,500 1,900 2,000 2,100} 2,200 _{ADRO - MACD(12,26) = -45.37, Signal(12,26,9) = -40.95 Mar Apr May Jun Jul Aug Sep Oct Nov 1585 1565 1645 1610 1,600 1665 1705 1,610 1,742.3} 1,800 _{1,500 1,700 ADRO - Stoch %K(15,3) = 23.82, Stoch %D(15,3,3) = 17.49 Mar Apr May Jun Jul Aug Sep Oct Nov 17.4925 23.8163 -40.947 -45.3692} 100 _{20 80 -100} ADRO - RSI(15) = 40.81 ₇₀ AD RO : H OLD

  Last price : 1.580 Support : 1.585, 1.565

Resist ance : 1.645, 1.665

Target price : 1.705 ( 7.9% ) St op loss : 1.565 ( - 0.9% ) AD RO berhasil break Support 1.585, yang perlu diperhat ikan Support 1.565 sebagai level St op Loss AD RO. Nam un,

j ika AD RO berhasil break Resist ance 1.625 ada peluang akan m encoba Resist ance 1.645. AD RO dilihat indicat or St oc

osc dan MACD m engindikasikan pola Downt rend. Candle chart m em bent uk pola Bearish Haram i.

  Ka lbe Fa r m a Tbk ( KLBF) Se m e n Gr e sik ( Pe r se r o) Tbk ( SM GR) KLBF : BUY ON W EAKN ESS Last price : 1.420 Target price : 1.520 ( 9.4% ) Ent ry point : 1.390 St op Loss : 1.330 ( - 4.3% ) KLBF berhasil break Resist ance 1.410 dan berpeluang m elanj ut kan penguat an dengan m enguj i Resist ance 1.470 dan 1.520. KLBF j uga didukung oleh I ndikat or MACD dan St oc Osc m engindikasikan pola Upt rend. Candle Chart m em ben- t uk pola Whit e Spinning Top.

  SM GR : H OLD Last price : 9.725 Target price : 10.350 ( 6.4% ) St op loss : 9.300 ( - 4.4% ) SM GR belum berhasil break Resist ance 9.925 dan berpeluang m enguj i Support 9.575 dan 9.425. Nam un, j ika SM GR berhasil break Resist ance 9.925 ada peluang akan m encoba break Resist ance 10.100 dan 10.350. SM GR dilihat dari I ndikat or MACD m engindikasikan pola Upt rend. I ndikat or St oc osc m engindikasikan pola Downt rend.

  

Support : 1.390, 1.360

Resist ance : 1.470, 1.520

Support : 9.575, 9.425

Resist ance : 9.925, 10.100

^{Mar Apr May Jun Jul Aug Sep Oct Nov 6,500 7,000 7,500 8,000 8,500 9,000 9,500 10,000 10,500 11,000 11,500 12,000 9300 9575 9925 9425 10100 10350 SMGR - Daily 11/9/2018 4:05:00 PM Open 9825, Hi 9825, Lo 9650, Clos e 9725 (-1.0%) MA(Clos e,50) = 9,127.00 9,725 9,127 Mar Apr May Jun Jul Aug Sep Oct Nov -400 -200 200 400 SMGR - MACD(12,26) = 196.17, Signal(12,26,9) = 108.76 196.166 108.757 20 80 SMGR - Stoch %K(15,3) = 91.19, Stoch %D(15,3,3) = 91.35 91.195 RSI(15) 70 SMGR - = 61.69 2018}

^{Feb Mar Apr May Jun Jul Aug Sep Oct Nov}

^{1,150 1,200 1,250 1,300 1,350 1,400 1,450 1,500 1,550 1,600 1,650 1,700 1,750 1,800 1390 1310 1360 1410 1470 1330 1520 1580 KLBF - Daily 11/9/2018 4:14:00 PM Open 1400, Hi 1435, Lo 1360, Clos e 1420 (1.1%) MA(Clos e,50) = 1,307.60 1,420 1,307.6 2018 Feb Mar Apr May Jun Jul Aug Sep Oct Nov -60 -40 -20 20 KLBF - MACD(12,26) = 22.38, Signal(12,26,9) = 15.67 22.3793 15.671 20 80 KLBF - Stoch %K(15,3) = 96.03, Stoch %D(15,3,3) = 84.63 96.0317 84.6317 KLBF - RSI(15) = 62.41}

  State Budget 2016 2017 2018

INDICATOR LKPP APBNP RAPBN

  

GDP Growth (%, YoY) 5,0% 5,2% 5,4%

Exchange rate (USD/IDR) 13307 13300 13500

Inflation (%, YoY)

  3% 4,3% 3,5%

  

3 Months SPN (%) 5,7% 5,2% 5,3%

Indonesian C rude Oil (USD/barrel)

  40

  45

  48 Oil Lifting ( thousands barrel/day) 829 815 800 Gas Lifting (thousands, BOE/day)

  1.18

  1.15

  1.2 Total State Budget (in IDR trillion) 1556 1714 1878 Upcoming IPO Dividend Rights Issue www.sinarmassekuritas.co.id See important disclaimer at the end of this report

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