Tuesday, March 10, 2020 - Sinarmas Sekuritas...PT PP (PTPP) membidik sejumlah tender proyek...

1

Today’s Market:

IHSG diperkirakan bergerak melemah. Bursa AS ditutup

melemah pada perdagangan Senin (09/03). Harga batuba-

ra turun ke level USD 65,15 per Mt. Crude oil stabil di lev-

el USD 32,78 per barrel. Rupiah melemah terhadap Dollar

AS di level Rp 14.390. 10Yr Government Bonds Yield naik

ke level 7,11%.

Dari global, Moody’s menurunkan proyeksi pertumbuhan

negara G20 sebanyak 0,3% menjadi 2,1% pada tahun ini.

Dari dalam negeri, Menteri Keuangan memperkirakan

defisit pada APBN 2020 akan meningkat ke rentang 2,2-

2,5% terhadap PDB terkait dampak dari virus corona.

Sehubungan dengan emiten, Waskita Beton Precast

(WSBP) mencatatkan pendapatan 2019 IDR 7.5tn (-5.4%

YoY) dan laba bersih IDR 806bn (-26.9% YoY). Hasil terse-

but tercatat di bawah estimasi.

Sehubungan dengan emiten, Prodia Widyahusada (PRDA)

mencatatkan pendapatan 2019 IDR 1.7tn (+9.1% YoY)

dan laba bersih IDR 210bn (+19.8% YoY).

Sehubungan dengan emiten, PT PP (PTPP) mendapatkan

kontrak baru IDR 3,4tn sepanjang YTD.

Secara teknikal indeks hari Selasa (10/03), IHSG dipred-

iksi bergerak di kisaran 5091-5200.

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

Tuesday, March 10, 2020

ID X Stat ist ics C lo sing

JCI 5,136.81

Transaction Value Regular M arket (IDR tn) 5.953

Transaction Volume Regular M arket (mn shares) 4,272

Foreign Net Buy (Sell) (IDR bn) 218

Foreign Net Buy (Sell) (0.45)

Total M arket Capitalization (IDR tn) 5,966.58

LQ45 813.75 (8.26) (19.79)

EIDO 19.40 (8.88) (24.40)

IDX 16.73 (9.75) (26.05)

DOW JONES 23,851.02 (7.79) (16.42)

S&P 500 2,746.56 (7.60) (14.99)

NASDAQ 7,950.68 (7.29) (11.39)

FTSE 5,965.77 (7.69) (20.90)

NIKKEI 19,698.76 (5.07) (16.73)

HANG SENG 25,040.46 (4.23) (11.17)

STRAITS TIM ES 2,782.37 (6.03) (13.67)

KLSE 1,424.16 (3.97) (10.36)

USD/IDR 14,390.00 0.91 3.64

EUR/IDR 16,384.93 1.30 5.08

JPY/IDR 139.63 1.62 8.16

SGD/IDR 10,387.16 0.42 0.82

AUD/IDR 9,474.87 0.63 (2.47)

GBP/IDR 18,706.50 0.00 3.68

Crude Oil (USD/barrel) 32.78 8:00:17 AM (46.30)

Coal (USD/mn tons) 65.15 3/9/2020 (3.77)

Natural Gas (USD/mmBtu) 1.78 8:00:11 AM (17.68)

Gold (USD/ounce) 1,665.80 8:10:17 AM 9.80

Nickel (USD/mn tons) 12,650.00 3/9/2020 (9.80)

Tins (USD/mn tons) 16,700.00 3/9/2020 (2.77)

CPO (M YR/mn tons) 2,336.00 3/9/2020 (23.18)

Rubber (JPY/kg) 154.00 7:16:58 AM (13.14)

Wheat (USD/bushel) 522.25 3/9/2020 (6.53)

Corn (USD/bushel) 374.25 3/9/2020 (3.48)

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 (%)

P riceLast

T ransact io n

YT D

C hg (%)

IHSG turun sebanyak 361.8 poin (6.58%) ke level 5136.81.

Sementara LQ45 turun sebanyak 73.3 poin (8.26%) ke level

813.75. Foreign net buy sebesar Rp 218.01 miliar.

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

3,000

3,500

4,000

4,500

5,000

5,500

6,000

6,500

7,000

Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19 Jan-20 Feb-20

Millio

ns

Volume JCI Index

2

Daily Corporate and Industry News

Dana Moneter Internasional (IMF) menyerukan stimulus besar-besaran dan koordinasi internasional untuk mengatasi dampak ekonomi dari penyebaran virus korona COVID-19. Source: Investor Daily Moody’s menurunkan proyeksi pertumbuhan negara G20 sebanyak 0,3% menjadi 2,1% pada tahun ini. Source: Kon-tan Badan Pemeriksa Keuangan (BPK) mengumumkan kerugian negara atas kasus PT Asuransi Jiwasraya (Persero) men-capai Rp 16,81 triliun. Source: Investor Daily Pemerintah harus berhitung ulang untuk menambal defisit Badan Penyelenggara Jaminan Sosial atau BPJS Kesehatan setelah Mahkamah Agung membatalkan kenaikan iurannya melalui putusan judicial review terhadap Pera-turan Presiden Nomor 75 Tahun 2019 tentang Jaminan Kesehatan. Source: Bisnis Indonesia PLN (Persero) Unit Induk Distribusi Jakarta Raya (PLN Disjaya) memperpanjang masa program potongan (diskon) tarif listrik bagi pelanggan industri hingga Mei nanti. Source: Investor Daily Menteri Keuangan Sri Mulyani Indrawati memperkirakan defisit pada APBN 2020 akan meningkat ke rentang 2,2-2,5 persen Produk Domestik Bruto, karena dampak dari wabah virus Corona baru atau COVID-19 yang telah mengham-bat kegiatan perekonomian global. Source: IQPlus Rontoknya indeks harga saham gabungan (IHSG) hingga 6,58% yang dipicu perang harga minyak dan ketakutan penyebaran Covid-19 mendorong Otoritas Jasa Keuangan (OJK) mengizinkan semua emiten atau perusahaan publik melakukan pembelian kembali (buyback) saham tanpa pelaksanaan rapat umum pemegang saham (RUPS) terlebih dulu. Source: Investor Daily Wijaya Karya Bangunan Gedung (WEGE) atau Wika Gedung menargetkan memperoleh kontrak dihadapi sebesar Rp 27,29 triliun pada tahun ini atau naik 56,66% dibanding realisasi order book tahun lalu Rp17,42 triliun. Source: In-vestor Daily Prodia Widyahusada (PRDA) mencatatkan pendapatan 2019 IDR1.7tn (+9.1% YoY) dan laba bersih IDR210bn (+19.8% YoY). Source: Bisnis Indonesia PT PP (PTPP) membidik sejumlah tender proyek konstruksi infrastruktur senilai total Rp 9,1 triliun dan mendapatkan kontrak baru IDR3,4tn YTD. Source: Investor Daily, Bisnis Indonesia Waskita Beton Precast (WSBP) mencatatkan pendapatan 2019 IDR7.5tn (-5.4% YoY) dan laba bersih IDR806bn (-26.9% YoY). Source: Bisnis Indonesia Triniti Land (TRIN) optimistis meraih penjualan produk-produk properti sekitar Rp 800-900 miliar hingga akhir 2020. Source: Investor Daily Bank OCBC NISP (NISP) memperoleh pinjaman sebesar Rp 2,75 triliun (setara US$ 200 juta) dari International Fi-nance Corporation (IFC), anggota World Bank Grup, pinjaman tersebut merupakan private arrangement antara Bank OCBC NISP dan IFC. Source: Investor Daily


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 29,568.57 23,706.07 (4,687.42) (16.42) 16.90 15.25 3.56 3.41 7,044.59 7,044.59

2 SPX Index 3,393.52 2,722.27 (484.22) (14.99) 17.98 15.94 3.02 2.84 23,652.72 23,652.72

3 CCM P Index 9,838.37 7,292.21 (1,021.93) (11.39) 30.55 21.82 4.15 4.01 12,327.77 12,327.77

4 SPTSX Index 17,970.51 14,498.32 (2,549.19) (14.94) 14.46 13.26 1.57 1.43 2,219.97 1,631.97

5 M EXBOL Index 45,955.41 38,265.51 (4,810.47) (11.05) 14.71 12.75 1.90 1.66 4,878.76 230.09

6 SX5E Index 3,867.28 2,939.85 (786.08) (20.99) 15.85 11.73 1.39 1.32 2,602.00 2,982.67

7 UKX Index 7,727.49 5,891.56 (1,576.67) (20.90) 17.18 11.09 1.46 1.38 1,590.38 2,086.74

8 CAC Index 6,111.41 4,691.20 (1,270.15) (21.25) 17.15 12.02 1.35 1.30 1,458.44 1,671.81

9 DAX Index 13,795.24 10,556.64 (2,623.99) (19.81) 18.37 11.74 1.30 1.23 984.55 1,128.59

10 IBEX Index 10,100.20 7,621.40 (1,840.50) (19.27) 16.93 10.30 1.10 1.03 484.71 555.62

11 FTSEM IB Index 25,483.05 18,346.40 (5,030.46) (21.40) 13.15 9.33 0.93 0.88 415.74 476.57

12 AEX Index 632.12 485.73 (113.92) (18.84) 16.57 13.77 1.59 1.58 655.60 751.52

13 SM I Index 11,270.00 9,059.11 (1,420.34) (13.38) 19.36 14.91 2.33 2.25 1,111.21 1,200.92

14 AS51 Index 7,197.20 5,538.90 (943.98) (14.12) 17.63 15.47 1.83 1.77 1,735.52 1,146.31

15 AS30 Index 7,289.70 5,600.50 (997.20) (14.66) 17.68 15.67 1.79 1.76 1,887.94 1,246.99

16 SHSZ300 Index 4,223.51 3,556.26 (99.45) (2.43) 14.25 11.68 1.82 1.58 31,980.21 4,603.99

17 SHASHR Index 3,444.44 2,814.01 (111.65) (3.49) 14.17 10.76 1.44 1.23 34,005.25 4,895.52

18 SZASHR Index 2,035.92 1,524.76 125.67 6.97 38.14 18.08 2.70 2.65 25,482.66 3,668.58

19 HSI Index 30,280.12 24,899.93 (3,149.29) (11.17) 10.49 9.78 1.10 1.01 16,489.16 2,121.20

20 HSCEI Index 11,881.68 9,731.89 (1,183.62) (10.60) 8.05 7.65 1.06 0.94 12,206.17 1,570.23

21 SENSEX Index 42,273.87 35,109.18 (5,618.79) (13.62) 21.80 19.28 2.78 2.69 66,612.57 894.15

22 NIFTY Index 12,430.50 10,294.45 (1,717.00) (14.11) 20.44 18.56 2.55 2.45 78,171.77 1,049.31

23 JCI Index 6,636.33 5,133.15 (1,162.73) (18.46) 15.64 12.05 1.47 1.66 5,966,584.86 414.32

24 LQ45 Index 1,059.65 813.75 (200.72) (19.79) 13.47 12.03 1.93 1.78 3,765,799.58 261.50

25 KSE100 Index 43,468.22 28,670.98 (3,676.13) (9.02) 8.52 6.07 1.12 0.98 5,903.41 37.53

26 NKY Index 24,115.95 18,891.77 (4,536.75) (19.18) 16.92 15.22 1.42 1.39 317,913.27 3,111.61

27 NEY Index 356.77 277.35 (68.94) (19.71) 11.89 11.49 0.92 0.90 377,048.95 3,690.41

28 TPX Index 1,747.20 1,330.99 (372.89) (21.66) 12.82 11.90 0.95 0.96 530,579.64 5,193.11

29 FBM KLCI Index 1,694.89 1,422.65 (164.60) (10.36) 15.92 14.83 1.42 1.34 916.16 217.28

30 NZSE Index 2,019.39 1,615.17 (127.33) (6.62) 26.02 25.41 2.15 2.19 150.15 95.53

31 PCOM P Index 8,419.59 6,312.61 (1,502.65) (19.23) 13.53 12.59 1.48 1.42 7,891.71 156.13

32 FSSTI Index 3,415.18 2,772.70 (440.46) (13.67) 10.77 11.71 0.95 0.92 487.11 351.78

33 KOSPI Index 2,277.23 1,891.81 (240.67) (10.95) 17.59 10.94 0.76 0.80 1,264,834.80 1,054.04

34 TWSE Index 12,197.64 10,180.04 (1,019.50) (8.50) 17.51 14.89 1.63 1.71 33,172.67 1,102.23

35 SET Index 1,748.15 1,249.31 (323.90) (20.50) 14.74 13.52 1.34 1.34 13,473.60 428.11

36 SET50 Index 1,164.72 823.11 (240.65) (22.52) 14.50 13.99 1.54 1.43 9,273.30 294.65

37 VNINDEX Index 1,028.97 834.67 (125.50) (13.06) 13.00 12.02 1.93 1.94 2,861,774.01 123.33

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 LOW P OIN T %T railing

12M2020E

T railing

12M2020E

D o main

C urrencyUSD

4

LQ45



LQ45 Index

HIGH LOW POINT %Trailing

12M2020E

Trailing

12M2020E

1 ADRO IJ 1,010 1,715 1,000 (545) (35.05) 5.54 5.84 0.60 0.52 32,305,822

2 AKRA IJ 2,270 5,550 2,120 (1,680) (42.53) 12.61 11.00 1.11 1.04 9,113,357

3 ANTM IJ 555 1,175 540 (285) (33.93) 16.58 14.07 0.67 0.66 13,337,074

4 ASII IJ 5,025 8,025 5,025 (1,900) (27.44) 9.37 8.84 1.38 1.28 203,429,855

5 BBCA IJ 28,925 35,300 25,700 (4,500) (13.46) 24.96 22.30 4.10 3.64 713,146,164

6 BBNI IJ 5,650 10,250 5,600 (2,200) (28.03) 6.85 6.06 0.86 0.83 105,364,909

7 BBRI IJ 3,750 4,760 3,660 (650) (14.77) 13.35 11.80 2.22 2.10 462,546,788

8 BBTN IJ 1,450 2,750 1,400 (670) (31.60) 74.46 6.78 0.64 0.72 15,355,500

9 BMRI IJ 6,575 8,175 6,275 (1,100) (14.33) 11.16 10.07 1.50 1.51 306,833,333

10 BRPT IJ 845 1,525 594 (665) (44.04) 405.85 29.30 4.38 0.71 75,219,035

11 BSDE IJ 940 1,580 940 (315) (25.10) 5.94 7.23 0.62 0.62 18,091,894

12 BTPS IJ 3,780 5,125 2,090 (470) (11.06) 20.80 17.33 5.40 4.46 29,119,986

13 CPIN IJ 5,800 8,000 4,190 (700) (10.77) 26.13 27.75 4.75 4.46 95,108,400

14 CTRA IJ 800 1,335 800 (240) (23.08) 14.67 15.69 1.01 0.98 14,848,243

15 ERAA IJ 1,570 2,260 965 (225) (12.53) 14.09 16.88 1.07 0.99 5,008,300

16 EXCL IJ 2,100 3,730 2,100 (1,050) (33.33) 31.66 19.22 1.17 1.10 22,444,717

17 GGRM IJ 44,975 93,500 44,975 (8,025) (15.14) 9.33 8.75 1.83 1.74 86,535,858

18 HMSP IJ 1,555 3,860 1,550 (545) (25.95) 12.90 12.58 5.66 5.04 180,874,610

19 ICBP IJ 10,375 12,550 8,950 (775) (6.95) 24.29 24.04 5.05 4.93 120,992,296

20 INCO IJ 2,230 4,320 2,200 (1,410) (38.74) 26.63 17.18 0.79 0.77 22,158,035

21 INDF IJ 6,375 8,300 5,850 (1,550) (19.56) 11.47 11.98 1.54 1.55 55,975,219

22 ACES IJ 1,395 1,920 1,370 (100) (6.69) 23.99 22.80 5.34 4.99 23,924,250

23 INKP IJ 5,275 10,675 5,250 (2,425) (31.49) 6.46 - 0.50 - 28,859,435

24 INTP IJ 13,650 22,875 13,450 (5,375) (28.25) 29.49 30.20 2.25 2.16 50,248,813

25 ITMG IJ 9,550 24,475 9,550 (1,925) (16.78) 5.62 6.31 0.82 0.81 10,790,784

26 JPFA IJ 1,350 2,430 1,280 (185) (12.05) 8.93 8.09 1.47 1.30 15,830,877

27 JSMR IJ 4,410 6,450 4,390 (765) (14.78) 16.55 15.58 1.77 1.69 32,007,212

28 KLBF IJ 1,140 1,690 1,140 (480) (29.63) 20.81 20.70 3.49 3.33 53,437,639

29 LPPF IJ 2,600 4,500 2,400 (1,610) (38.24) 5.35 5.29 3.97 2.86 7,292,697

30 TBIG IJ 1,005 1,365 608 (225) (18.29) 31.79 25.42 6.12 5.86 22,770,284

31 MNCN IJ 1,215 1,780 725 (415) (25.46) 6.82 8.06 1.36 1.45 17,345,466

32 PGAS IJ 1,170 2,530 1,165 (1,000) (46.08) 9.11 8.11 0.76 0.72 28,362,565

33 PTBA IJ 2,210 4,260 2,110 (450) (16.92) 5.93 6.87 1.35 1.35 25,460,657

34 PTPP IJ 950 2,550 920 (635) (40.06) 5.04 4.95 0.45 0.44 5,889,902

35 PWON IJ 500 815 496 (70) (12.28) 8.27 9.02 1.67 1.64 24,079,801

36 SCMA IJ 945 1,870 915 (465) (32.98) 11.31 10.66 2.67 2.73 13,962,065

37 SMGR IJ 9,525 14,450 9,525 (2,475) (20.63) 24.72 27.80 1.81 1.76 56,497,728

38 SRIL IJ 187 372 173 (73) (28.08) 3.04 2.59 0.45 - 3,824,557

39 TKIM IJ 6,400 13,475 5,575 (3,875) (37.71) 9.19 - 1.01 - 19,924,631

40 TLKM IJ 3,500 4,500 3,340 (470) (11.84) 17.11 16.78 3.48 3.25 346,717,758

41 TOWR IJ 770 900 600 (35) (4.35) 18.86 17.46 4.59 4.31 39,281,261

42 UNTR IJ 15,800 28,900 15,725 (5,725) (26.60) 5.21 5.73 1.01 0.90 58,936,135

43 UNTR IJ 15,800 28,900 15,725 (5,725) (26.60) 5.21 5.73 1.01 0.90 58,936,135

44 WIKA IJ 1,480 2,500 1,455 (510) (25.63) 5.97 6.40 0.84 0.84 13,275,528

45 WSKT IJ 830 2,230 810 (655) (44.11) 8.13 4.54 0.62 0.55 11,266,379

MARKET CAP

(Mn)LQ45 Index

CHANGE YTD PER (x) PBV (x)

9-Mar-20

52-WEEK

5

Macro data


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

Property (5.75) (5.69) (11.90) (21.03)

Basic Industry (7.35) (4.00) (17.48) (26.62)

Trade (3.75) (3.95) (9.81) (16.74)

Finance (6.69) (4.94) (14.24) (15.00)

M iscellaneous Industry (9.42) (9.40) (16.49) (25.13)

Consumer (6.67) (2.25) (14.34) (17.65)

Infrastructure (7.09) (1.84) (11.67) (18.72)

Agriculture (7.92) (4.71) (17.32) (28.21)

M ining (6.12) (3.40) (10.02) (17.79)

F eb-20 Jan-20

0.66 3.61

2.98 2.68

0.28 0.39

130.40 131.70

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

USD/IDR 14,385.00 - (4.68) (3.61)

USD/CNY 6.95 (0.19) 0.55 0.24

USD/EUR 0.88 0.58 (4.14) (1.49)

USD/JPY 103.53 (1.13) 6.03 4.91

USD/SGD 1.38 (0.01) 0.35 (2.80)

USD/AUD 1.52 (0.11) 1.45 6.46

USD/GBP 0.77 0.51 (1.06) 1.56

( in %)

5.36

0.60

1.46

6.24

7.11

7.61

Indonesia 5-Year Government Bonds Yield



Lending and D epo sit R ates

JIBOR (in IDR)

LIBOR (in GBP)

SIBOR ( in USD)

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 %)


Technical Corner


JCI : MELEMAH

Last price : 5.136

Support : 5.128, 5.091

Resistance : 5.200, 5.228

JCI pada hari ini kami perkirakan akan bergerak MELEMAH dengan range 5.091 - 5.200. JCI breakdown Strong

Support 5200, berpeluang melanjutkan pelemahan dengan menguji Support 5.128 dan 5.091. Namun, jika JCI

bertahan diatas 5.200, berpeluang mencoba Resistance 5.228 dan 5.291. Indikator Stoc osc mengindikasikan

pola Downtrend dan MACD masih membentuk pola Oversold.

Jakarta Composite Index (JCI)

Summary of portfolio:Stock Recommendation Comment

LSIP REDUCE LSIP berhasil breakdown Support 965 sebagai level Stop Loss, LSIP masihberpeluang melanjutkan pelemahan dengan menguji Support 785 dan 765.

ISAT BUY ON WEAKNESS ISAT breakdown Support 2.010, berpeluang melanjutkan pelemahan denganmenguji Support 1.945 dan 1.875. Namun, jika ISAT bertahan diatas 2.010,

berpeluang mencoba Resisatnce 2.100 dan 2.140.

UNVR REDUCE UNVR berhasil break Support 7.100 sebagai level Stop Loss, UNVR berpeluangmenlanjutkan pelemahan dengan menguji Support 6.950 dan 6.800.

TLKM BUY ON WEAKNESS TLKM breakdown Resistance 3.550, berpeluang melanjutkan pelemahandengan menguji Support 3.470 dan 3.420.

LSIP : REDUCE

Last price : 825Stop loss : 965 (-5.4%)

LSIP berhasil breakdown Support 965 sebagai level Stop Loss, LSIP masih berpeluang melanjutkan pelemahan denganmenguji Support 785 dan 765. Namun, jika LSIP bertahan diatas Resistance 850, akan mencoba Resistance 910 dan930. Indikator MACD mengindikasikan pola Oversold dan Stoc osc mengindikasikan pola Downtrend.

ISAT : BUY ON WEAKNESS

Last price : 2.000Target price : 2.100 (8.0%)Entry point : 1.945Stop loss : 1.875 (-3.6%)

ISAT break Support 2.010, berpeluang melanjutkan pelemahan dengan menguji Support 1.945 dan 1.875. Namun,jika ISAT bertahan diatas 2.010, berpeluang mencoba Resisatnce 2.100 dan 2.140. ISAT dilihat dari Indikator MACDdan Stoc osc mengindikasikan pola Downtrend.

Support : 785, 765Resistance : 850, 910

Support : 1.945, 1.875Resistance : 2.100, 2.140

Indosat Tbk (ISAT)

PP London Sumatra Indonesia Tbk (LSIP)


Unilever Indonesia Tbk (UNVR)

Telekomunikasi Indonesia (Persero) Tbk (TLKM)


UNVR : REDUCE

Last price : 7.025Stop loss : 7.100 (-3.7%)

UNVR berhasil breakdown Support 7.100 sebagai level Stop Loss, UNVR berpeluang menlanjutkan pelemahan denganmenguji Support 6.950 dan 6.800. Namun, jika UNVR bertahan diatas Resistance 7.100, akan mencoba Resistance7.225 dan 7.375. UNVR dilihat dari Indikator MACD dan indikator Stoc osc mengindikasikan pola Downtrend.

TLKM : BUY ON WEAKNESS

Last price : 3.500Target price : 3.670 (7.3%)Entry point : 3.420Stop loss : 3.310 (-3.2%)

TLKM breakdown Resistance 3.550, berpeluang melanjutkan pelemahan dengan menguji Support 3.470 dan 3.420.Namun, jika TLKM bertahan diatas Resistance 3.550 berpeluang mencoba Resistance 3.590 dan 3.630. TLKM dilihatdari Indikator MACD dan Stoc osc mengindikasikan pola Downtrend.



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

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DEPUTY HEAD OF RESEARCH

Wilbert

Consumer Goods, Plantation, Pulp and Paper

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Richard Suherman

Commodities

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EQUITY ANALYST

Richardson Raymond

Property, Industrial Estate

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EQUITY ANALYST

Paulina

Retail, Cement, Digital

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EQUITY ANALYST

Anthony Angkawijaya

Construction, Infrastructure, Petrochemical

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TECHNICAL ANALYST

Eddy Wijaya

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Tuesday, March 10, 2020 - Sinarmas Sekuritas...PT PP (PTPP) membidik sejumlah tender proyek...

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