Thursday, January 9, 2020 - Sinarmas...

1

Today’s Market:

IHSG diperkirakan bergerak menguat. Bursa AS ditutup

menguat pada perdagangan Rabu (08/01) seiring dengan

pernyataan Presiden AS yang mengindikasikan meredanya

ketegangan antara AS-Iran. Harga batubara stabil di level

USD 67,10 per Mt. Crude oil turun ke level USD 60,15 per

barrel. Rupiah menguat terhadap Dollar AS di level Rp

13.885. 10Yr Government Bonds Yield naik ke level

7,08%.

Dari dalam negeri, Bank Indonesia mencatat cadangan

devisa per Desember 2019 mencapai USD 129,2 miliar,

naik USD 2,6 miliar dari bulan sebelumnya.

Dari dalam negeri, Kementerian Energi dan Sumber Daya

Mineral (ESDM) berencana merilis kebijakan baru yakni,

Kontraktor wajib menjual liquefied natural gas (LNG)

kepada Perusahaan Gas Negara (PGAS), demi menye-

diakan harga gas yang terjangkau bagi pelanggan industri.

Sehubungan dengan emiten, Wijaya Karya (WIKA) me-

nyiapkan belanja modal sebesar Rp 11,5 triliun pada 2020.

Sehubungan dengan emiten, Smartfren Telecom (FREN)

mencatatkan pelanggan 23,8 juta di akhir 2019, lebih ren-

dah dari target awal 25-30 juta pelanggan.

Secara teknikal indeks hari Kamis (09/01), IHSG diprediksi

bergerak di kisaran 6210-6304.

Source: Bloomberg, Sinarmas Investment Research See pg. 6-8 for Technical Corner

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

Thursday, January 9, 2020

ID X Stat ist ics C lo sing

JCI 6,225.69

Transaction Value Regular M arket (IDR tn) 5.597

Transaction Volume Regular M arket (mn shares) 4,472

Foreign Net Buy (Sell) (IDR bn) (0)

Foreign Net Buy (Sell) 0.07

Total M arket Capitalization (IDR tn) 7,205.18

LQ45 1,005.45 (0.91) 2.31

EIDO 25.67 0.79 3.42

IDX 22.61 0.67 3.92

DOW JONES 28,745.09 0.56 23.22

S&P 500 3,253.05 0.49 29.77

NASDAQ 9,129.24 0.67 37.59

FTSE 7,574.93 0.01 12.59

NIKKEI 23,204.76 (1.57) 15.94

HANG SENG 28,087.92 (0.83) 8.68

STRAITS TIM ES 3,245.89 (0.06) 5.77

KLSE 1,589.10 (1.36) (6.00)

USD/IDR 13,865.00 (0.40) (0.01)

EUR/IDR 15,447.73 (0.26) (0.93)

JPY/IDR 127.06 (1.53) (0.61)

SGD/IDR 10,274.49 (0.23) (0.40)

AUD/IDR 9,554.93 0.40 (2.02)

GBP/IDR 18,222.00 (0.01) (0.29)

Crude Oil (USD/barrel) 60.15 8:03:25 AM (1.47)

Coal (USD/mn tons) 67.10 1/8/2020 (0.89)

Natural Gas (USD/mmBtu) 2.15 8:03:25 AM (1.60)

Gold (USD/ounce) 1,558.59 8:13:25 AM 2.72

Nickel (USD/mn tons) 14,090.00 8:13:25 AM 0.46

Tins (USD/mn tons) 17,140.00 1/8/2020 (0.20)

CPO (M YR/mn tons) 3,038.00 1/8/2020 (0.10)

Rubber (JPY/kg) 176.00 7:44:45 AM (0.73)

Wheat (USD/bushel) 553.25 8:03:12 AM (0.98)

Corn (USD/bushel) 383.75 8:03:15 AM (1.03)

P riceLast

T ransact io n

YT D

C hg (%)C o mmo dit ies

Other Indices C lo sing 1-D ay C hg (%)YT D

C hg (%)

C urrency Spo t R ate R ate ( ID R ) 1-D ay C hg (%)YT D

C hg (%)

IHSG turun sebanyak 53.7 poin (0.86%) ke level 6225.69.

Sementara LQ45 turun sebanyak 9.2 poin (0.91%) ke level

1005.45. Foreign net sell sebesar Rp 0.09 miliar.

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Volume JCI Index

2

Daily Corporate and Industry News

Bank Indonesia (BI) mencatat, posisi cadangan devisa (cadev) Indonesia pada akhir Desember 2019 mencapai US$ 129,2 miliar, naik US$ 2,6 miliar dibandingkan bulan sebelumnya yang senilai US$ 126,6 miliar. Kenaikan ini di-harapkan bisa menjaga stabilitas makroekonomi dan sistem keuangan serta nilai tukar (kurs) rupiah, di tengah tekanan eksternal seperti hubungan Iran dan Amerika Serikat (AS) yang memanas. Source: Investor Daily Kementerian Energi dan Sumber Daya Mineral (ESDM) memastikan perhitungan subsidi bahan bakar minyak (BBM) tidak akan terganggu akibat dari konflik antara Amerika Serikat dan Iran. Source: Kontan Kementerian Energi dan Sumber Daya Mineral (ESDM) berencana merilis kebijakan baru yakni, Kontraktor wajib menjual liquefied natural gas (LNG) kepada Perusahaan Gas Negara (PGAS), demi menyediakan harga gas yang ter-jangkau bagi pelanggan industri. Source: Kontan Hutchison 3 Indonesia membukukan total 40 juta pelanggan sepanjang 2019. Capaian tersebut ditopang oleh per-tambahan sebanyak 3 juta pelanggan baru Tri sepanjang tahun lalu. Source: Bisnis Indonesia Smartfren Telecom (FREN) mencatatkan pelanggan 23,8 juta di akhir 2019. Angka ini meleset dari target yang ditetapkan di awal tahun yaitu sekitar 25 juta—30 juta pelanggan. Source: Bisnis Indonesia Lippo Karawaci (LPKR) melalui anak usahanya sekaligus manajer dari Lippo Malls Indonesia Retail Trust, LMIRT Man-agement Ltd, menandatangani perjanjian jual beli dengan NWP Retail atas penjualan dua mal di Indonesia dengan nilai transaksi Rp 1,28 triliun. Source: Investor Daily Wijaya Karya (WIKA) menyiapkan belanja modal (capital expenditure/capex) sebesar Rp 11,5 triliun pada 2020. Source: Investor Daily Medco Energi Internasional (MEDC) menuntaskan divestasi kepemilikan asetnya pada blok minyak dan gas di Meksi-ko, Tunisia, dan Amerika Serikat (AS). Nilai pelepasan aset dari emiten yang dikendalikan oleh Arifin Panigoro terse-but sekitar US$ 63,74 juta. Source: Investor Daily Bumi Resources (BUMI) telah melunasi pokok dan kupon utang tranche A hingga US$ 313,8 juta hingga awal tahun ini. Pembayaran terakhir senilai US$ 11,6 juta telah diproses kemarin melalui agen fasilitas. Source: Investor Daily Central Omega Resources (DKFT) mengambil alih saham PT Bumi Konawe Abadi (BKA) sebanyak 180 ribu saham atau 30% dari total saham yang dikeluarkan oleh BKA. Aksi pengambilalihan saham tersebut dilakukan perseroan dari PT COR Industri Indonesia. Source: Investor Daily Lippo Karawaci (LPKR) telah mendivestasikan dua pusat belanja dengan nilai penjualan Rp 1.28 triliun. Pelepasan aset tersebut merupakan bagian strategi manajemen untuk fokus di bisnis inti, yakni properti. Source: Kontan


3

World Equity Indices

Source: Bloomberg, Sinarmas Investment Research


WOR LD EQUIT Y IN D IC ES

N O T IC KER

1 INDU Index 28,872.80 23,703.25 206.65 0.72 19.76 17.33 4.27 3.96 8,166.17 8,166.17

2 SPX Index 3,267.07 2,562.02 22.27 0.69 21.77 18.65 3.65 3.34 27,922.62 27,922.62

3 CCM P Index 9,168.89 6,877.08 156.64 1.75 34.44 25.19 4.93 3.68 14,040.82 14,040.82

4 SPTSX Index 17,230.58 14,644.09 104.39 0.61 17.46 15.18 1.84 1.65 2,641.84 2,030.15

5 M EXBOL Index 45,599.57 38,265.51 929.89 2.14 17.29 14.23 2.14 1.87 5,480.38 290.34

6 SX5E Index 3,801.13 3,037.13 27.41 0.73 20.37 14.53 1.79 1.67 3,324.30 3,695.95

7 UKX Index 7,727.49 6,734.00 32.49 0.43 18.32 13.44 1.80 1.68 2,021.58 2,649.27

8 CAC Index 6,065.74 4,730.55 52.94 0.89 21.60 14.86 1.76 1.63 1,849.56 2,056.34

9 DAX Index 13,425.85 10,786.75 71.17 0.54 24.71 14.25 1.65 1.55 1,238.60 1,377.07

10 IBEX Index 9,705.40 8,409.20 42.20 0.44 15.59 12.34 1.35 1.26 602.03 669.34

11 FTSEM IB Index 24,003.64 19,016.16 325.65 1.39 14.36 11.73 1.23 1.15 533.73 593.40

12 AEX Index 613.95 492.17 5.90 0.98 18.07 16.57 2.08 1.95 819.75 911.40

13 SM I Index 10,755.68 8,617.93 35.22 0.33 25.06 16.79 2.78 2.48 1,273.79 1,308.73

14 AS51 Index 6,893.70 5,722.40 199.92 2.99 20.35 18.14 2.22 2.13 2,052.92 1,411.59

15 AS30 Index 7,002.80 5,783.30 196.70 2.89 21.01 17.91 2.16 2.12 2,236.82 1,538.03

16 SHSZ300 Index 4,172.65 3,062.57 15.74 0.38 14.61 11.97 1.88 1.63 33,163.70 4,778.56

17 SHASHR Index 3,444.44 2,650.93 17.46 0.55 14.61 11.12 1.49 1.29 34,824.63 5,017.89

18 SZASHR Index 1,881.65 1,324.92 48.86 2.71 37.24 17.08 2.59 2.48 24,338.50 3,506.94

19 HSI Index 30,280.12 24,899.93 (101.83) (0.36) 11.00 10.63 1.23 1.13 18,280.39 2,350.99

20 HSCEI Index 11,881.68 9,731.89 (88.27) (0.79) 8.79 8.37 1.19 1.05 13,277.65 1,707.60

21 SENSEX Index 41,809.96 35,287.16 (436.00) (1.06) 26.09 23.06 3.16 3.10 75,391.72 1,056.46

22 NIFTY Index 12,293.90 10,583.65 (143.10) (1.18) 26.20 21.92 2.90 2.83 89,112.06 1,248.72

23 JCI Index 6,636.33 5,767.40 (73.85) (1.17) 19.56 14.40 2.07 2.01 7,205,179.10 520.00

24 LQ45 Index 1,059.65 888.02 (9.02) (0.89) 17.13 14.34 2.40 2.10 4,747,812.15 342.65

25 KSE100 Index 42,835.08 28,670.98 622.48 1.53 9.58 6.42 1.28 1.10 6,699.01 43.20

26 NKY Index 24,091.12 20,101.93 (73.73) (0.31) 18.77 17.98 1.80 1.71 382,722.19 3,507.99

27 NEY Index 355.36 298.20 0.41 0.12 14.90 13.46 1.16 1.11 452,324.64 4,145.96

28 TPX Index 1,747.20 1,462.41 1.37 0.08 15.65 14.53 1.23 1.21 648,004.54 5,939.55

29 FBM KLCI Index 1,732.27 1,548.45 0.34 0.02 18.27 15.74 1.60 1.51 1,024.16 249.70

30 NZSE Index 1,947.23 1,531.81 10.80 0.56 27.77 26.57 2.32 2.37 160.86 107.00

31 PCOM P Index 8,419.59 7,469.41 (79.02) (1.01) 16.77 15.15 1.95 1.74 9,672.09 191.31

32 FSSTI Index 3,415.18 3,040.16 23.06 0.72 12.26 12.89 1.10 1.08 570.29 422.41

33 KOSPI Index 2,252.05 1,891.81 (23.54) (1.07) 16.91 11.63 0.85 0.88 1,393,086.44 1,200.08

34 TWSE Index 12,197.64 9,584.63 (180.04) (1.50) 19.17 15.99 1.76 1.83 35,644.88 1,187.33

35 SET Index 1,748.15 1,543.22 (20.57) (1.30) 18.70 15.39 1.67 1.64 16,483.41 542.99

36 SET50 Index 1,164.72 1,041.28 (11.31) (1.06) 18.56 16.10 2.00 1.76 11,642.78 383.53

37 VNINDEX Index 1,028.97 888.61 (12.01) (1.25) 15.62 13.35 2.26 2.22 3,240,248.45 139.80

T railing

12M2019E

D o main

C urrencyUSDLOW P OIN T %

T railing

12M2019E

A sia/ P acif ic

A merica

52-WEEK C H A N GE YT D P ER (x) P B V (x) M A R KET C A P (B n)

Euro pe

H IGH

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LQ45



LQ45 Index

HIGH LOW POINT %Trailing

12M2019E

Trailing

12M2019E

1 ADRO IJ 1,505 1,715 1,010 (50) (3.22) 6.80 7.75 0.90 0.89 48,138,873

2 AKRA IJ 3,560 5,875 3,220 (390) (9.87) 19.77 17.10 1.74 1.65 14,292,314

3 ANTM IJ 905 1,175 660 65 7.74 27.04 23.21 1.09 1.07 21,747,842

4 ASII IJ 6,775 8,550 6,250 (150) (2.17) 13.40 12.80 1.92 1.86 274,276,073

5 BBCA IJ 33,400 34,000 25,700 (25) (0.07) 29.13 28.58 4.91 4.75 823,477,334

6 BBNI IJ 7,425 10,250 6,650 (425) (5.41) 8.90 8.83 1.17 1.16 138,466,274

7 BBRI IJ 4,380 4,730 3,650 (20) (0.45) 15.91 15.40 2.72 2.67 540,254,648

8 BBTN IJ 2,070 2,860 1,780 (50) (2.36) 16.00 18.10 0.91 0.90 21,921,300

9 BMRI IJ 7,500 8,175 6,275 (175) (2.28) 12.88 12.77 1.78 1.79 350,000,000

10 BRPT IJ 1,280 1,525 456 (230) (15.23) 639.40 46.16 6.90 1.03 113,940,478

11 BSDE IJ 1,220 1,580 1,120 (35) (2.79) 7.71 9.59 0.81 0.80 23,480,969

12 BTPS IJ 4,170 4,500 1,855 (80) (1.88) 32.08 24.65 8.04 6.13 32,124,429

13 CPIN IJ 7,275 8,825 4,190 775 11.92 32.78 34.63 5.96 5.61 119,295,450

14 CTRA IJ 1,015 1,335 855 (25) (2.40) 18.62 19.31 1.28 1.24 18,838,708

15 ERAA IJ 1,710 2,590 965 (85) (4.74) 15.34 15.04 1.16 1.08 5,454,900

16 EXCL IJ 3,300 3,730 1,995 150 4.76 - 55.84 1.87 1.86 35,270,269

17 GGRM IJ 57,400 100,975 49,175 4,400 8.30 11.91 11.37 2.33 2.23 110,442,651

18 HMSP IJ 2,270 4,030 1,900 170 8.10 18.83 18.26 8.27 7.32 264,042,035

19 ICBP IJ 11,550 12,550 8,950 400 3.59 27.04 26.96 5.62 5.59 134,695,037

20 INCO IJ 3,540 4,320 2,410 (100) (2.75) 440.25 51.07 1.35 1.30 35,174,639

21 INDF IJ 8,225 8,225 5,850 300 3.79 14.80 15.25 1.99 1.97 72,219,008

22 INDY IJ 1,245 2,260 1,050 50 4.18 - 9.98 0.52 0.50 6,486,689

23 INKP IJ 7,975 13,700 5,325 275 3.57 10.15 - 0.79 - 43,631,089

24 INTP IJ 18,200 22,875 17,000 (825) (4.34) 39.32 41.29 2.99 2.88 66,998,417

25 ITMG IJ 11,725 24,475 10,050 250 2.18 5.67 6.77 1.01 1.07 13,248,371

26 JPFA IJ 1,660 3,100 1,280 125 8.14 12.59 12.19 1.94 1.80 19,466,115

27 JSMR IJ 5,075 6,450 4,550 (100) (1.93) 19.05 17.78 2.03 1.96 36,833,696

28 KLBF IJ 1,585 1,690 1,260 (35) (2.16) 28.93 28.39 4.85 4.63 74,297,069

29 LPPF IJ 4,150 7,325 2,940 (60) (1.43) 14.93 8.01 6.50 5.22 11,640,266

30 MEDC IJ 915 1,060 620 50 5.78 - 7.33 0.96 0.18 16,397,135

31 MNCN IJ 1,595 1,705 725 (35) (2.15) 8.95 10.63 1.79 1.90 22,770,385

32 PGAS IJ 2,100 2,720 1,775 (70) (3.23) 17.00 15.15 1.41 1.33 50,907,167

33 PTBA IJ 2,670 4,510 2,110 10 0.38 6.79 7.32 1.73 1.71 30,760,160

34 PTPP IJ 1,625 2,550 1,340 40 2.52 8.61 7.49 0.78 0.71 10,074,833

35 PWON IJ 540 815 535 (30) (5.26) 8.93 9.83 1.80 1.71 26,006,185

36 SCMA IJ 1,400 2,030 1,080 (10) (0.71) 16.76 14.94 3.95 3.90 20,684,541

37 SMGR IJ 12,000 14,450 10,075 0 0.00 31.14 35.08 2.28 2.23 71,178,240

38 SRIL IJ 260 372 240 0 0.00 4.39 3.75 0.66 - 5,317,566

39 TKIM IJ 11,300 13,950 5,575 1,025 9.98 16.88 - 1.85 - 35,179,426

40 TLKM IJ 3,900 4,500 3,431 (70) (1.76) 19.07 18.07 3.88 3.60 386,342,645

41 TPIA IJ 9,300 10,600 4,680 (1,075) (10.36) 306.03 111.80 6.75 6.71 165,851,738

42 UNTR IJ 21,550 28,900 19,650 25 0.12 7.52 7.31 1.44 1.33 80,384,412

43 UNVR IJ 8,325 10,105 8,070 (75) (0.89) 43.42 45.68 46.11 52.18 317,598,750

44 WIKA IJ 2,080 2,500 1,635 90 4.52 8.38 9.26 1.18 1.16 18,657,499

45 WSKT IJ 1,440 2,230 1,215 (45) (3.03) 14.10 6.93 1.08 0.92 19,546,489

MARKET CAP

(Mn)LQ45 Index

CHANGE YTD PER (x) PBV (x)

8-Jan-20

52-WEEK

5

Macro data


D escript io n 1-D ay (%) 5-D ays (%) 1-M o nth (%) YT D (%)

Property (1.06) (2.90) (5.61) (2.90)

Basic Industry (2.15) (3.27) (3.21) (3.27)

Trade (1.02) (2.70) (2.58) (2.70)

Finance (0.85) (1.16) 2.85 (1.16)

M iscellaneous Industry (0.08) (2.42) 0.42 (2.42)

Consumer (0.29) 2.10 1.66 2.10

Infrastructure (0.98) (1.74) (0.77) (1.74)

Agriculture (1.55) (5.92) (0.62) (5.92)

M ining 0.19 1.62 6.62 1.62

D ec-19 N o v-19

2.72 3.61

2.72 3.00

0.34 0.14

129.18 126.63

F OR EX Spo t R ate 1-D ay (%) 1-M o nth (%) YT D (%)

USD/IDR 13,865.00 - 1.05 0.01

USD/CNY 6.95 (0.01) 1.34 0.25

USD/EUR 0.90 (0.09) (0.45) 0.87

USD/JPY 109.22 (0.09) (0.60) (0.56)

USD/SGD 1.35 0.06 0.67 (0.33)

USD/AUD 1.46 (0.07) (0.69) 2.13

USD/GBP 0.76 (0.08) 0.30 1.15

( in %)

5.83

0.98

1.46

6.40

7.08

7.46

Inflation M oM (in %)

Foreign Reserves (in USD bn)

Secto rs

Eco no mic Indicato rs

Inflation YTD (in %)

Eco no mic P arameters

Inflation YoY (in %)

Indonesia 5-Year Government Bonds Yield



Lending and D epo sit R ates

JIBOR (in IDR)

LIBOR (in GBP)

SIBOR ( in USD)


Technical Corner


JCI : MENGUAT

Last price : 6.225

Support : 6.210, 6.180

Resistance : 6.274, 6.304

JCI pada hari ini kami perkirakan akan bergerak MENGUAT dengan range 6.210 - 6.304. JCI breakdown

Support 6.235 berpeluang melanjutkan pelemahan dengan menguji Support 6.210 dan 6.180. Namun, jika JCI

bertahan diatas 6.250, maka berpeluang rebound dengan mencoba Resistance 6.274 dan 6.304. Indikator Stoc

osc dan MACD mengindikasikan pola Downtrend.

Jakarta Composite Index (JCI)

Summary of portfolio:

Stock Recommendation Comment

ICBP BUY ON WEAKNESS ICBP berhasil breakout Resistance 11.475, berpeluang menguji Resistance11.700 dan 11.875. Namun, jika ICBP gagal bertahan diatas 11.475 akan

kembali menguji Support 11.400 dan 11.300.

UNTR HOLD UNTR belum berhasil breakout Resistance 21.650, dan cenderung bergeraksideway dengan range 21.150-21.600. Namun, jika UNTR break diatas 21.650,akan melanjutkan penguatan dengan mencoba Resistance 21.850 dan 22.150.

MAPI REDUCE MAPI break Support 1.030 sebagai level Stop Loss, MAPI masih berpeluangmelanjutkan pelemahan dengan menguji Support 1.025 dan 1.010.

ADHI REDUCE ADHI break Support 1.175 sebagai level Stop Loss, ADHI masih berpeluangmelanjutkan pelemahan dengan menguji Support di 1.155 dan 1.130.

Indofood CBP Sukses Makmur Tbk (ICBP)

United Tractors Tbk (UNTR)


ICBP : BUY ON WEAKNESS

Last price : 11.550Target price : 12.050 (5.7%)Entry point : 11.400Stop loss : 11.100 (-2.6%)

ICBP berhasil breakout Resistance 11.475, berpeluang menguji Resistance 11.700 dan 11.875. Namun, jika ICBPgagal bertahan diatas 11.475 akan kembali menguji Support 11.400 dan 11.300. ICBP dilihat dari Indikator Stoc oscdan MACD mengindikasikan pola Uptrend.

UNTR : HOLD

Last price : 21.550Target price : 22.375 (4.1%)Stop loss : 20.900 (-2.8%)

UNTR belum berhasil breakout Resistance 21.650, dan cenderung bergerak sideway dengan range 21.150-21.600.Namun, jika UNTR break diatas 21.650, akan melanjutkan penguatan dengan mencoba Resistance 21.850 dan 22.150.Indikator MACD mengindikasikan pola Sideways dan Stoc osc mengindikasikan pola Golden cross.

Support : 11.475, 11.400Resistance : 11.700, 11.875


Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com

Apr May Jun Jul Aug Sep Oct Nov Dec 2020

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UNTR - Daily 1/8/2020 4:14:00 PM Open 21250, Hi 21600, Lo 21225, Close 21550 (1.4%) MA(Close,50) = 21,782.50

21,550 21,782.5

Apr May Jun Jul Aug Sep Oct Nov Dec 20200

20

40

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100UNTR - Stochastic %D(15,3,3) = 49.94, Stochastic %K(15,3) = 50.25

49.9386 50.2488

-1,500

-1,000

-500

0

500UNTR - MACD(12,26) = -44.87, Signal(12,26,9) = -58.23

-44.8693-58.2315

MAPI : REDUCE

Last price : 1.035Stop loss : 1.030 (-2.8%)

MAPI break Support 1.030 sebagai level Stop Loss, MAPI masih berpeluang melanjutkan pelemahan dengan mengujiSupport 1.025 dan 1.010. Namun, jika MAPI bertahan diatas Resistance 1.065 berpeluang mencoba Resistance 1.075dan 1.090. MAPI dilihat dari Indikator MACD dan Stoc osc mengindikasikan pola Bearish.

ADHI : REDUCE

Last price : 1.160Stop loss : 1.175 (-2.9%)

ADHI break Support 1.175 sebagai level Stop Loss, ADHI masih berpeluang melanjutkan pelemahan dengan mengujiSupport di 1.155 dan 1.130. Namun, jika ADHI bertahan diatas Resistance 1.185 berpeluang mencoba Resistance1.195 dan 1.210. ADHI dilihat dari Indikator Stoc osc mengindikasikan pola Oversold dan MACD membentuk polaBearish.



Adhi Karya (Persero) Tbk (ADHI)

Mitra Adiperkasa Tbk (MAPI)


PT Sinarmas Sekuritas

Sinarmas Land Plaza Tower 3, 6th Fl.

Jl. M. H. Thamrin no. 51

Tel: +62 21 392 5550

Fax: +62 21 392 5540

[email protected]

www.sinarmassekuritas.co.id

Equity Research Team

HEAD OF RESEARCH

Evan Lie Hadiwidjaja

Banking, Automotive

Tel: +62 21 3925550 Ext: 615

[email protected]

DEPUTY HEAD OF RESEARCH

Wilbert

Consumer Goods, Plantation, Pulp and Paper

Tel: +62 21 3925550 Ext: 611

[email protected]

EQUITY ANALYST

Richard Suherman

Commodities

Tel: +62 21 3925550 Ext: 610

[email protected]

EQUITY ANALYST

Richardson Raymond

Property, Industrial Estate

Tel: +62 21 3925550 Ext: 159

[email protected]

EQUITY ANALYST

Paulina

Retail, Cement, Digital

Tel: +62 21 3925550 Ext: 610

[email protected]

EQUITY ANALYST

Anthony Angkawijaya

Construction, Infrastructure, Petrochemical

Tel: +62 21 3925550 Ext: 611

[email protected]

TECHNICAL ANALYST

Eddy Wijaya

Tel: +62 21 3925550 Ext: 159

[email protected]

DISCLAIMER

This material is issued by PT Sinarmas Sekuritas, a member of Indonesia Stock Exchanges, represent the opinion of PT Sinarmas Sekuritas, derived its judg-

ment from sources deemed reliable, however, PT Sinarmas Sekuritas and its affiliated cannot guarantee its accuracy and completeness. PT Sinarmas Seku-

ritas or its affiliates may be involved in transactions contrary to any opinion herein or have positions in the securities recommended herein and may seek or

will seek investment banking or other business relationships with the companies in this material. PT Sinarmas Sekuritas, its employees and its affiliates,

expressly disclaim any and all liability for representation or warranties, expressed or implied, here in or omission there from or for any loss how so ever

arising from any use of this material or its contents or otherwise arising in connection there with. Opinion expressed in this material are our present view

and are subject to change without notice. For further information please contact our number +62 21 392 5550 or fax +62 21 392 2320.

20200109 Daily Research1.pdf (p.1-5)20200109 Technical Corner.pdf (p.6-8)Disclaimer.pdf (p.9)

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