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OSODaily 09 Desember 2019

ODAY TOP STOCK TRADED (LQ45) JAKARTA COMPOSITE INDEX

6,186.87 34.75

0.56%

Previous 6,152.12 Lowest

6,145.12 Highest 6,186.87 Val IDR bn

7.152

Volbn 14.895 Mkt Cap IDRtr

7,079.47 Net Forg 1DIDRbn 774.55 Net ForgYTDIDRbn

41,147.20

Return YTD (%) (0.12) Month to date (%)

2.91

Indices

Last Chg% YTD% Americas

Dow Jones United States 28,015.06 1.22 20.09 S&P 500 United States 3,145.91 0.91 25.49 Nasdaq United States 8,656.53 1.00 30.46 EIDO United States 25.02 0.36 0.81 EMEA

FTSE 100 United Kingdom 7,239.66 1.43 7.60

CAC 40 France 5,871.91 1.21 24.12 D DAX Germany 13,166.58 0.86 24.70

Asia Pacific

Nikkei Japan 23,354.40 0.25 16.98 Shanghai China 2,899.47 0.43 16.77 TWSE Taiwan 11,594.65 0.13 19.35 KOSPI Korea 2,081.85 0.30 2.30 KLSE Malaysia 1,563.58 0.31 (7.22) ST – Times Singapore 3,174.19 0.65 4.10 Sensex India 40,779.59 (0.82) 12.13 Hangseng Hongkong 26,217.04 1.07 2.53

Sectoral Previous Last Chg% YTD% AGRICULTURE 1,396.60 1,434.35 2.70 (8.31) MINING 1,481.13 1,474.40 (0.45) (17.01) MISC INDUSTRY 1,190.35 1,201.07 0.90 (13.87) BASIC INDUSTRY 968.48 979.83 1.17 14.64 CONSUMER GOODS 2,035.58 2,055.19 0.96 (20.01) PROPERTY 499.79 510.21 2.08 13.95 INFRASTRUKTUR 1,139.43 1,137.75 (0.15) 6.90 FINANCE 1,294.83 1,298.19 0.26 10.42 MANUFAKTURE 1,443.48 1,458.26 1.02 (9.88) TRADE 765.04 766.20 0.15 (2.26) LQ 45 986.36 992.52 0.62 1.00

Commodities Previous Lastest Chg% YTD%

Oil (USD/bbl) 58.43 59.20 1.32 29.60 Gold (USD tr.oz) 1,476.05 1,460.16 (1.08) 13.91 Nickel (USD/mtrc ton) 13,275.00 13,475.00 1.51 26.05 Tin (USD/mtrc ton) 16,800.00 17,075.00 1.64 (12.32) Copper (USD/mtrc ton) 5,888.00 5,990.00 1.73 0.42 CPO (MYR/ton) 2,715.00 2,757.00 1.55 37.57 Coal (USD/ton) 67.55 67.55 - (34.10)

Currencies

Last Chg% YTD% IDR / USD

14,038.00 0.48 2.51

IDR / AUD

9,608.70 0.10 5.80 IDR / EUR

15,592.47 0.26 5.48

IDR /SGD

10,321.49 0.15 2.26 IDR / JPY

129.24 0.61 1.08

IDR / GBP

18,436.62 (0.18) (0.64) Global Macro Economics CB Rate CPI YoY GDP YoY United States 1.75 1.80 2.10 Euro Area 0.00 1.00 1.20 United Kingdom 0.75 1.50 1.00 Japan 0.10 0.20 1.30 China 4.35 3.80 6.00 Domestic macro Economics Lastest Chg% YTD% Jibor 5.00 (15.02) 28.20 GovBonds (5y) 6.51 (0.15) (17.66) GovBonds (10y) 7.11 (0.18) (11.39)

Inflasi YoY 3.00

Inflasi MoM 0.14 Bi rate 5.00 GDP Growth YoY (%) 5.02

Foreign Reserve (Bn) 126.63 Government Bonds Yield% Wow% Ytd% 7 Year 7.11 6.88 6.88 15 Year 7.57 7.57 7.57 20 Year 7.56 7.56 7.56 30 Year 7.74 7.74 7.74

Source: Bloomberg LP & OSO Research Team

Market Review Pada perdagangan akhir pekan kemarin (06/12) IHSG ditutup menguat sebesar 0.56% ke level 6,186.87. Delapan dari sepuluh indeks sektoral kompak ditutup dalam zona hijau, dimana sektor perkebunan dan properti memimpin penguatan masing-masing sebesar 2.7% dan 2.2%. Adapun saham yang menjadi penggerak indeks diantaranya ; HMSP, BBCA, TLKM, BRPT, BNLI. Pelaku pasar asing membukukan aksi beli bersih (Netbuy) senilai Rp 774 miliar. Nilai tukar rupiah terapresiasi sebesar 0.48% ke level 14.038.

Global Review Pada perdagangan Jum'at (06/12) bursa saham Wall Street kompak ditutup dalam zona hijau, dimana Dow Jones naik 1.22%, disusul Nasdaq dan S&P 500 yang menguat masing-masing sebesar 1% dan 0.91%. Penguatan tersebut terderong oleh beberapa faktor diantaranya adalah data ekonomi AS yang positif pada bulan November kemarin, tercatat data lapangan pekerjaan AS bulan November bertambah sebanyak 266 ribu angka ini merupakan yang terbesar selama.10 bulan terakhir. Selain itu data pengangguran AS juga tercatat turun dimana saat ini berada di level 3.5% dari sebelumnya sebesar 3.6%. Sementara itu pernyataan dari pemerintah AS yang menyebut perundingan dagang dengan China hijgga saat ini berjalan baik, nyatanya mampu menenangkan pasar meskipun nantinya tarif baru barang impor China akan berlaku pada 15 Desember mendatang.

JCI Prediction

IHSG ditutup menguat sebesar 0.56% ke level 6.186. IHSG ditutup bullish candle. Adapun indikator Stochastic bullish dan MACD Histogram bergerak positif dengan Volume meningkat. Kami perkirakan IHSG berpeluang lanjutkan penguatan dengan pergerakan di kisaran 6.132 - 6.245.

Major Economic Release

Foreign Exchange Reserves Indonesia bulan

November 2019 turun menjadi senilai US$

126.6 miliar dari sebelumnya senilai US$

126.7 miliar.

Property Price Index Indonesia kuartal IV

2019 stagnan di level 1.9% (YoY).

Non Farm Payrolls United States bulan

November tercatat sebanyak 266 ribu naik

dari sebelumnya 156 ribu.

Unemployment Rate United States bulan

November turun ke level 3.5% dari

sebelumnya di level 3.6% (YoY).



TODAY TOP STOCK TRADED (LQ45)

Top Gainers

Last Chg% YTD% MC (T) Beta

WSKT IJ Equity

1,420 10.08 (15.48) 19.28 1.94

PTPP IJ Equity

1,575 7.88 (12.74) 9.76 2.07

SCMA IJ Equity

1,300 6.12 (30.48) 19.20 1.48

WIKA IJ Equity

2,000 5.26 20.85 17.94 1.75

INKP IJ Equity

7,950 3.92 (31.17) 43.49 2.51

Top Losers

Last Chg% YTD% MC (T) Beta

PGAS IJ Equity

2,140 (2.73) 0.94 51.88 1.86

ADRO IJ Equity

1,425 (2.40) 17.28 45.58 1.53

BBTN IJ Equity

2,170 (2.25) (14.57) 22.98 2.15

BBRI IJ Equity

4,170 (1.18) 13.93 514.35 1.62

MEDC IJ Equity

735 (0.68) 7.30 13.12 1.77

Top Volume

Last Volume (Mn) YTD% MC (T) Beta

WSKT IJ Equity

1,420 92.6 (15.5) 19.28 1.94

BBRI IJ Equity

4,170 67.2 13.9 514.35 1.62

BRPT IJ Equity

1,415 66.4 196.0 125.95 1.24

ADRO IJ Equity

1,425 62.9 17.3 45.58 1.53

PTPP IJ Equity

1,575 58.7 (12.7) 9.76 2.07

Top Value

Last Value (Bn) YTD% MC (T) Beta

TLKM IJ Equity

4,100 485.8 10.9 406.16 0.81

BBCA IJ Equity

31,975 346.4 23.0 788.34 0.95

BBRI IJ Equity

4,170 303.5 13.9 514.35 1.62

BMRI IJ Equity

7,175 266.3 (2.7) 334.83 1.57

ADRO IJ Equity

1,425 222.9 17.3 45.58 1.53

BENCHMARK INDICES COMPARISON Indices Country Latest P/E PBV Target 2019F Asia Pacific

IHSG

Indonesia 6,187 19.34 2.06 6,100

Nikkei

Japanese 23,354 18.60 1.78 24,877

Shanghai

China 2,912 14.00 1.43 3,319

TWSE

Taiwan 11,610 18.82 1.73 12,227

KOSPI

Korea 2,082 16.18 0.81 2,584

KLSE

Malaysia 1,568 18.06 1.58 1,696

ST - Times

Singapore 3,195 12.10 1.07 3,523

Sensex

India 40,445 28.84 2.92 45,888

Hangseng

Hongkong 26,498 10.33 1.15 31,983

JAKARTA COMPOSITE INDEX MOVERS

Movers

Latest Chg% YTD% MC (T) Beta

HMSP IJ Equity

2080 3.48 (43.94) 242 1.32

BBCA IJ Equity

31975 1.19 22.98 788 0.96

TLKM IJ Equity

4100 0.99 10.88 406 0.81

BRPT IJ Equity

1415 2.91 196.03 126 1.25

BNLI IJ Equity

1255 10.09 100.80 35 0.81

Laggard


BBRI IJ Equity

4170 (1.18) 13.93 514 1.62

TCPI IJ Equity

5700 (7.32) (36.13) 29 6.46

PGAS IJ Equity

2140 (2.73) 0.94 52 1.84

ADRO IJ Equity

1425 (2.40) 17.28 46 1.52

ACES IJ Equity

1485 (4.19) (0.34) 25 0.82

Movers


OSO MANAJEMEN INVESTASI

Mutual Fund Latest 1 Month (%) YTD% Oso Sustainability Fund

1,343.75 (2.69) (10.97)

Oso Syariah Equity Fund

717.42 (20.07) 46.99

Source: Bloomberg LP & OSO Research Team



COMPARATION OF JCI PERFORMANCE (SEAG)

SEA


OSODaily 05 April 2019


MACRO ECONOMIC & INDUSTRY NEWS

Bank Indonesia mencatat cadangan devisa Indonesia pada akhir November 2019 sebesar US$ 126,6 miliar, turun

tipis dari bulan sebelumnya yang sebesar US$ 126,7 miliar. BI menilai cadangan devisa tersebut mampu

mendukung ketahanan sektor eksternal serta menjaga stabilitas makroekonomi dan sistem keuangan.

Cadangan devisa China turun US$ 9 miliar atau sekitar Rp 126 triliun (1 US$=Rp 14.000) pada November

2019 menjadi US$ 3,096 triliun. Penurunan cadangan devisa China yang melebihi proyeksi ini menunjukkan China

tetap terkunci dalam negosiasi mengenai perjanjian perdagangan sementara dengan Amerika Serikat.

Moody's Investors Service menurunkan outlook atau proyeksi pertumbuhan bank global karena adanya

perlambatan pertumbuhan, suku bunga rendah dan kondisi bisnis yang tidak stabil. Moody mengubah proyeksi

pertumbuhan di sektor perbankan dari stabil menjadi negatif. Menurut Moody's, ketegangan perdagangan antara

Amerika Serikat (AS) dan China diperkirakan berdampak negatif bagi industri perbankan di kedua negara serta

negara lain yang fokus pada kegiatan ekspor, di mana banyak bank yang membiayai sektor perdagangan.

CORPORATES NEWS PT Japfa Comfeed Indonesia Tbk (JPFA) terus melebarkan sayap produk ekspornya ke pasar Timur Tengah dan

China. Produk yang akan diekspor ke Timur Tengah merupakan daging ayam dan bermacam olahannya. Hal ini

tidak lepas dari arahan Menteri Pertanian yang mengimbau agar JPFA dapat merebut pangsa pasar olahan ayam di

Timur Tengah yang selama ini dikuasai Thailand.

PT Integra Indocabinet Tbk (WOOD) hanya membubuhkan kenaikan pendapatan single digit di kuartal-III 2019.

Sampai triwulan ketiga tahun ini total revenue tercatat sebanyak Rp 1,4 triliun atau hanya naik 2,1% dibandingkan

periode yang sama tahun sebelumnya Rp 1,37 triliun.

PT Sarana Menara Nusantara Tbk (TOWR) akan membagikan dividen interim tunai tahun buku 2019 sebesar Rp 6

per saham. Jika dikalikan jumlah saham ditempatkan dan disetor penuh yang sebanyak 50.269.742.500 saham,

maka total dividennya adalah Rp 301,62 miliar.

PT Adi Sarana Armada Tbk (ASSA) melalui anak usahanya, PT Adi Sarana Logistik membentuk joint venture dengan

PT Semangat Bambu Runcing dan Top Haze Limited pada 29 November silam. Joint venture ini khusus untuk bisnis

e-fulfillment, semacam gudang untuk nantinya mendistribusikan barang-barang dari seller, jadi seller nanti bisa

menitipkan di gudang lebih dulu.

PT Nusantara Almazia Tbk (NZIA) terus ekspansi guna memenuhi kebutuhan rumah dalam negeri. NZIA berencana

membangun 5.800 unit rumah dengan fasilitas likuiditas pembiayaan perumahan (FLPP). Rumah bersubsidi ini akan

dibangun NZIA dalam kurun waktu lima tahun.

PT Summarecon Agung Tbk (SMRA) hampir menembus target marketing sales sebesar Rp4 triliun pada tahun ini.

Sampai dengan akhir November lalu SMRA telah membukukan Rp3,9 triliun. Jumlah itu naik 27,86% atau Rp855

miliar dari realisasi pada Agustus 2019 sebesar Rp3,05 triliun.

Sumber: Kontan, Bisnis Indonesia, Iqplus

NOTE: Positive Sentiment Negative Sentiment Netral




Technical

Medium/Minor trend : Uptrend MACD line/histogram : Positif Stochastic : Bullish Volume : Meningkat

Recommendation : Trading Buy Entry Buy : 1.170 – 1.200 Target Price : 1.230 – 1.250 Support : 1.165 – 1.170 Cutloss : 1.160

DAILY TECHNICAL

Literasi Adhi Karya - Bubble Deck Slab Slab atau pelat adalah elemen struktur yang berfungsi menyalurkan beban menuju rangka pendukung vertikal. Slab umumnya menggunakan material beton yang menyebabkan bobot menjadi lebih berat. Bobot ini berpengaruh pada efisiensi suatu slab. Ternyata ada jenis slab lain dan lebih ringan, yakni Bubble Deck Slab. Bubble Deck Slab adalah metode yang secara visual menghilangkan semua beton dari tengah lantai slab yang kurang berpengaruh secara struktural. Bola berongga polietilen densitas tinggi ini hadir untuk menggantikan beton yang tidak efektif di pusat pelat tadi. Sehingga dapat mengurangi bobot mati struktur slab dan meningkatkan efisiensi lantai.

Harga ditutup bullish candle dan menguji resistance. Harga berpeluang kembali menguji level 1.230. Apabila break 1.230 next harga ke level 1.250. Hati-hati jika harga tidak mampu break up atau menembus area support. Batasi resiko dengan tetap memperhatikan support. Cutloss di 1.160 jika sudah melewati support 1.165 – 1.170.

|ADHI|PE : 9.09x | PBV : 0.66x | ROE: 7.18% | NPM : 3.92% | DER : 4.01x | Fair Value : -|

Souce: OSO Research Team

BUY

NOTE:




Technical



DAILY TECHNICAL

BUY |ERAA|PE : 22.03x | PBV : 1.0x | ROE: 4.54% | NPM : 0.70% | DER : 1.02x | Fair Value : -|

Aturan IMEI Berlaku Tahun Depan, Erajaya: Dampaknya Sudah Terasa Pedagang memeriksa nomor identitas ponsel (IMEI) dagangannya. Pemerintah akan mengeluarkan regulasi untuk memblokir ponsel selundupan atau "black market" melalui validasi database nomor indentitas ponsel (IMEI) pada Agustus 2019. ANTARA FOTO/Akbar Nugroho Gumay TEMPO.CO, Jakarta - Pemerintah akan menerapkan aturan International Mobile Equipment Identity alias IMEI ponsel mulai pada 18 April 2020. Menurut Director Marketing and Communication Erajaya Group, dampak dari rencana penerapan IMEI itu sudah mulai terasa.



NOTE:




Technical



DAILY TECHNICAL

BUY |WIKA|PE : 9.95x | PBV : 0.98x | ROE: 9.83% | NPM : 7.39% | DER : 2.41x | Fair Value : - |

WIKA Gedung Bidik Pertumbuhan Kontrak Baru Dua Digit pada Tahun 2020 PT Wijaya Karya Bangunan Gedung Tbk. membidik pertumbuhan kontrak baru sebesar dua digit pada tahun depan. Sepanjang tahun ini, emiten dengan kode saham WEGE tersebut sebelumnya menargetkan kontrak baru senilai Rp11,98 triliun hingga akhir tahun dengan membidik berbagai proyek pemerintah, BUMN, dan swasta. “Pertumbuhan kontrak baru pada 2020 ditargetkan berkisar 15% hingga 25% dari pencapaian Desember 2019,” ujar Syailendra Ogan, Direktur Keuangan Wijaya Karya Bangunan Gedung pada Rabu (4/12/2019). Seiring dengan kenaikan target pertumbuhan kontrak baru tersebut, perseroan juga berencana meningkatkan alokasi belanja modal atau capital expenditure (capex).



NOTE:




Sector Rotation

Mingguan

Bulanan



FUNDAMENTAL ANALYSIS (LQ 45)

Last Price Change (%) Chg. Ytd (%) PBV (x) PE (x) P/EBITDA ROA (%) ROE (%) DER (x) Fair Value Up-Side Recommendation

SECTOR BASIC INDUSTRY

BRPT IJ Equity 1,415 2.91 196.03 7.35 165.63 13.03 0.60 3.53 98.23 640 -55% Sell

CPIN IJ Equity 6,900 - (4.50) 5.65 31.09 19.30 13.14 19.08 22.95 5,615 -19% Sell

INKP IJ Equity 7,950 3.92 (31.17) 0.75 9.61 3.20 3.57 8.09 113.83 11,300 42% Buy

INTP IJ Equity 20,700 0.73 12.20 3.38 44.39 25.52 6.43 7.58 0.50 20,380 -2% Sell

JPFA IJ Equity 1,585 - (26.28) 1.85 12.02 4.87 6.39 16.10 59.63 1,958 24% Buy

SMGR IJ Equity 12,425 - 8.04 2.36 32.25 9.46 3.48 7.46 30.13 14,536 17% Buy

TKIM IJ Equity 11,650 3.56 4.95 1.81 16.59 19.52 5.01 11.50 120.71 13,000 12% Buy

TPIA IJ Equity 9,800 1.03 65.40 6.95 123.23 41.29 3.21 5.68 34.35 4,733 -52% Sell

Industry Average in LQ45 3.76 54.35 17.02 5.23 9.88 60.04

Total of Industry Average 1.69 25.91 9.38 1.63 (12.15) 101.04

SECTOR CONSUMER GOODS

GGRM IJ Equity 52,800 (0.19) (36.86) 2.15 10.98 6.60 13.37 20.54 38.38 60,911 15% Buy

HMSP IJ Equity 2,080 3.48 (43.94) 7.32 16.68 12.63 28.65 44.36 0.33 2,317 11% Buy

ICBP IJ Equity 11,425 1.56 9.33 5.48 26.34 15.39 13.90 22.21 9.06 12,858 13% Buy

INDF IJ Equity 8,000 1.59 7.38 1.91 14.17 5.53 5.05 14.20 59.18 9,099 14% Buy

KLBF IJ Equity 1,570 0.32 3.29 4.79 28.57 18.80 13.84 17.56 2.34 1,730 10% Buy

UNVR IJ Equity 42,250 0.24 (6.94) 46.69 43.97 28.76 35.85 92.26 20.26 46,457 10% Buy


Total of Industry Average 4.67 25.13 11.96 8.78 4.37 54.55

SECTOR INFRASTRUCTURE

EXCL IJ Equity 3,400 1.49 71.72 1.89 130.48 3.56 (4.39) (13.14) 125.77 4,053 19% Buy

JSMR IJ Equity 5,175 (0.48) 20.91 2.08 19.52 5.81 2.28 11.28 157.26 6,616 28% Buy

PGAS IJ Equity 2,140 (2.73) 0.94 1.46 17.58 3.06 3.09 7.33 109.43 2,466 15% Buy

TLKM IJ Equity 4,100 0.99 10.88 4.04 19.85 6.12 9.65 21.31 37.58 4,755 16% Buy


Total of Industry Average 2.47 30.03 11.17 (2.96) (2.38) 131.60

Source: Bloomber LP





SECTOR MINING

ADRO IJ Equity 1,425 (2.40) 17.28 0.86 6.51 2.93 7.10 13.60 32.95 1,498 5% Hold

AKRA IJ Equity 3,770 - (12.12) 1.85 20.94 11.55 4.57 11.23 42.61 4,647 23% Buy

ANTM IJ Equity 810 0.62 5.88 0.97 24.05 8.42 2.46 4.12 50.26 1,202 48% Buy

INCO IJ Equity 3,170 1.93 (2.76) 1.17 381.74 17.75 0.25 0.29 1.94 4,062 28% Buy

INDY IJ Equity 1,100 0.46 (30.60) 0.45 #N/A N/A 1.00 (1.10) (4.29) 129.53 2,000 82% Buy

ITMG IJ Equity 10,100 - (50.12) 0.86 4.82 2.65 11.77 17.06 - 13,459 33% Buy

MEDC IJ Equity 735 (0.68) 7.30 0.74 9.06 1.44 (1.14) (5.07) 202.38 970 32% Buy

PTBA IJ Equity 2,550 (0.39) (40.70) 1.66 6.51 4.59 17.59 26.36 5.12 2,725 7% Hold



SECTOR MISC INDUSTRY

ASII IJ Equity 6,775 1.12 (17.63) 1.90 13.25 6.96 5.92 14.87 49.27 7,665 13% Buy

SRIL IJ Equity 258 3.20 (27.93) 0.62 4.17 1.65 6.22 15.93 139.64 Neutral #VALUE! #VALUE!



SECTOR PROPERTY

BSDE IJ Equity 1,255 2.45 - 0.81 7.74 8.26 5.69 11.03 46.06 1,722 37% Buy

CTRA IJ Equity 1,000 1.01 (0.99) 1.25 18.16 7.75 2.94 7.16 50.80 1,359 36% Buy

PTPP IJ Equity 1,575 7.88 (12.74) 0.70 7.74 3.28 2.27 9.37 74.03 2,332 48% Buy

PWON IJ Equity 565 0.89 (8.87) 1.87 9.26 7.63 11.59 22.21 36.44 734 30% Buy

WIKA IJ Equity 2,000 5.26 20.85 1.08 7.66 4.05 3.72 15.29 78.93 2,751 38% Buy

WSKT IJ Equity 1,420 10.08 (15.48) 0.96 12.63 3.47 1.04 7.79 224.10 2,081 47% Buy



Source: Bloomber LP





SECTOR TRADE

ERAA IJ Equity 1,520 2.01 (30.91) 1.01 13.37 5.03 3.42 8.28 88.81 1,922 26% Buy

LPPF IJ Equity 3,760 0.53 (32.86) 5.85 13.46 6.79 16.19 37.82 - 3,877 3% Hold

MNCN IJ Equity 1,395 0.36 102.17 1.56 7.80 4.73 13.22 21.24 42.22 1,632 17% Buy

SCMA IJ Equity 1,300 6.12 (30.48) 3.53 14.96 10.17 19.59 26.60 0.33 1,507 16% Buy

UNTR IJ Equity 21,325 2.52 (22.03) 1.39 7.26 3.03 9.42 19.84 17.95 25,385 19% Buy



Last Price Change (%) Chg. Ytd (%) PBV (x) PE (x) LDR (%) NPL NIM (%) DER (x) Fair Value Up-Side Recommendation

SECTOR FINANCE

BBCA IJ Equity 31,975 1.19 22.98 4.66 27.65 88.15 1.40 6.51 6.30 32,508 2% Hold

BBRI IJ Equity 4,170 (1.18) 13.93 2.62 15.33 90.10 2.27 7.24 64.57 4,686 12% Buy

BBNI IJ Equity 7,575 1.68 (13.92) 1.17 8.93 92.85 1.90 5.20 82.33 8,960 18% Buy

BBTN IJ Equity 2,170 (2.25) (14.57) 0.97 17.16 103.45 2.82 3.54 188.00 2,192 1% Hold

BMRI IJ Equity 7,175 - (2.71) 1.70 12.32 100.47 2.75 5.38 56.75 8,570 19% Buy

BTPS IJ Equity 3,940 0.51 119.50 7.56 30.15 454.49 1.39 38.72 149.94 3,978 1% Hold



Source: Bloomber LP



TECHNICAL ANALYSIS (LQ 45)

Ticker Last YtD% MA5 RSI Rec MACD Trend

Bollinger Band

Pivot Point

Support Resistance Stop Loss

Level Recommendation

Lower Middle Upper 1 2 1 2

ADRO IJ Equity 1,425 17.3 Negatif OverBought Positif 1,225 1,335 1,445 1,440 1,415 1,380 1,475 1,500 1,360 Sell

AKRA IJ Equity 3,770 (12.1) Negatif Trading Positif 3,225 3,585 3,945 3,760 3,725 3,670 3,815 3,850 3,610 Hold

ANTM IJ Equity 810 5.9 Negatif Trading Positif 755 805 855 805 800 780 825 830 770 Hold

ASII IJ Equity 6,775 (17.6) Negatif Trading Positif 6,375 6,575 6,800 6,725 6,650 6,575 6,800 6,875 6,475 Hold

BBCA IJ Equity 31,975 23.0 Negatif Trading Positif 31,100 31,525 31,950 31,825 31,650 31,450 32,025 32,200 30,975 Hold

BBNI IJ Equity 7,575 (13.9) Negatif Trading Negatif 7,300 7,525 7,725 7,550 7,475 7,400 7,625 7,700 7,275 Sell

BBRI IJ Equity 4,170 13.9 Negatif Trading Positif 3,930 4,115 4,295 4,210 4,170 4,130 4,250 4,290 4,070 Hold

BBTN IJ Equity 2,170 (14.6) Negatif OverBought Positif 1,785 2,045 2,305 2,195 2,155 2,115 2,235 2,275 2,080 Sell

BMRI IJ Equity 7,175 (2.7) Negatif Trading Positif 6,800 7,025 7,250 7,175 7,150 7,075 7,250 7,275 6,975 Hold

BRPT IJ Equity 1,415 196.0 Negatif OverBought Positif 915 1,205 1,500 1,390 1,360 1,325 1,425 1,455 1,305 Sell

BSDE IJ Equity 1,255 - Positif Oversold Negatif 1,210 1,330 1,450 1,245 1,225 1,205 1,265 1,285 1,185 Speculative Buy

BTPS IJ Equity 3,940 119.5 Positif Trading Negatif 3,775 3,900 4,030 3,960 3,920 3,860 4,020 4,060 3,800 Hold

CPIN IJ Equity 6,900 (4.5) Negatif Trading Negatif 6,450 6,950 7,475 6,925 6,850 6,725 7,050 7,125 6,625 Sell

CTRA IJ Equity 1,000 (1.0) Negatif Oversold Negatif 970 1,040 1,105 1,005 985 970 1,020 1,040 955 Speculative Buy

ERAA IJ Equity 1,520 (30.9) Negatif Trading Negatif 1,355 1,520 1,680 1,505 1,480 1,440 1,545 1,570 1,420 Sell

EXCL IJ Equity 3,400 71.7 Negatif Trading Negatif 3,270 3,440 3,605 3,375 3,345 3,275 3,445 3,475 3,225 Sell

GGRM IJ Equity 52,800 (36.9) Negatif Trading Positif 49,800 52,675 55,575 52,925 52,450 52,100 53,275 53,750 51,300 Hold

HMSP IJ Equity 2,080 (43.9) Negatif Trading Positif 1,900 2,030 2,155 2,055 2,025 1,995 2,085 2,115 1,965 Hold

ICBP IJ Equity 11,425 9.3 Positif Trading Negatif 11,200 11,375 11,525 11,350 11,275 11,150 11,475 11,550 11,000 Hold

INCO IJ Equity 3,170 (2.8) Negatif Oversold Negatif 2,945 3,255 3,560 3,165 3,130 3,105 3,190 3,225 3,060 Speculative Buy

INDF IJ Equity 8,000 7.4 Positif Trading Negatif 7,750 7,900 8,075 7,950 7,875 7,800 8,025 8,100 7,675 Hold

INDY IJ Equity 1,100 (30.6) Negatif Oversold Negatif 1,050 1,230 1,405 1,105 1,095 1,080 1,120 1,130 1,065 Speculative Buy

INKP IJ Equity 7,950 (31.2) Negatif Trading Negatif 6,700 7,625 8,525 7,850 7,700 7,550 8,000 8,150 7,425 Sell

source: Bloomberg Lp



TECHNICAL NALYSIS (LQ 45)

Ticker Last YtD% MA5 RSI Rec MACD Trend

Bollinger Band

Pivot Point

Support Resistance Stop Loss

Level Recommendation

Lower Middle Upper 1 2 1 2

INTP IJ Equity 20,700 12.2 Negatif Trading Positif 19,250 20,000 20,750 20,650 20,525 20,375 20,800 20,925 20,075 Hold

ITMG IJ Equity 10,100 (50.1) Negatif Oversold Negatif 9,650 11,575 13,500 10,125 10,025 9,950 10,200 10,300 9,800 Speculative Buy

JPFA IJ Equity 1,585 (26.3) Positif Trading Negatif 1,570 1,650 1,735 1,590 1,565 1,545 1,610 1,635 1,520 Hold

JSMR IJ Equity 5,175 20.9 Negatif Trading Positif 4,720 5,050 5,350 5,175 5,125 5,050 5,250 5,300 4,975 Hold

KLBF IJ Equity 1,570 3.3 Negatif Trading Positif 1,475 1,535 1,595 1,565 1,540 1,525 1,580 1,605 1,500 Hold

LPPF IJ Equity 3,760 (32.9) Negatif Trading Positif 3,455 3,595 3,740 3,765 3,725 3,685 3,805 3,845 3,625 Hold

MEDC IJ Equity 735 7.3 Negatif OverBought Positif 600 675 750 740 735 725 750 755 715 Sell

MNCN IJ Equity 1,395 102.2 Negatif Trading Negatif 1,265 1,380 1,500 1,390 1,370 1,340 1,420 1,440 1,315 Sell

PGAS IJ Equity 2,140 0.9 Negatif OverBought Positif 1,850 1,990 2,125 2,165 2,130 2,085 2,210 2,245 2,055 Sell

PTBA IJ Equity 2,550 (40.7) Negatif Trading Negatif 2,375 2,510 2,645 2,560 2,530 2,480 2,610 2,640 2,445 Sell

PTPP IJ Equity 1,575 (12.7) Negatif Trading Negatif 1,350 1,500 1,655 1,525 1,460 1,390 1,595 1,660 1,370 Sell

PWON IJ Equity 565 (8.9) Negatif Trading Positif 550 575 600 565 560 555 570 575 545 Hold

SCMA IJ Equity 1,300 (30.5) Negatif Trading Negatif 1,155 1,255 1,355 1,270 1,225 1,175 1,320 1,365 1,155 Sell

SMGR IJ Equity 12,425 8.0 Negatif Trading Negatif 11,375 12,225 13,075 12,400 12,250 12,025 12,625 12,775 11,825 Sell

SRIL IJ Equity 258 (27.9) Negatif Oversold Positif 234 259 283 254 250 246 258 262 242 Speculative Buy

TKIM IJ Equity 11,650 5.0 Negatif Trading Negatif 9,275 11,225 13,150 11,450 11,175 10,925 11,700 11,975 10,750 Sell

TLKM IJ Equity 4,100 10.9 Negatif Trading Positif 3,820 4,010 4,200 4,065 4,030 3,985 4,110 4,145 3,925 Hold

TPIA IJ Equity 9,800 65.4 Negatif OverBought Positif 8,900 9,375 9,875 9,750 9,700 9,600 9,850 9,900 9,450 Sell

UNTR IJ Equity 21,325 (22.0) Negatif Trading Negatif 20,275 22,100 23,900 21,075 20,800 20,400 21,475 21,750 20,100 Sell

UNVR IJ Equity 42,250 (6.9) Negatif Trading Positif 41,175 42,325 43,475 42,175 42,025 41,875 42,325 42,475 41,225 Hold

WIKA IJ Equity 2,000 20.8 Negatif Trading Negatif 1,750 1,905 2,060 1,960 1,905 1,850 2,015 2,070 1,820 Sell

WSKT IJ Equity 1,420 (15.5) Negatif Oversold Negatif 1,205 1,380 1,555 1,360 1,295 1,225 1,430 1,495 1,205 Speculative Buy

source: Bloomberg Lp



MAJOR ECONOMIC RELEASE CALENDAR

Date Event Country Act Prev Cons

6-Dec-19 Japan, Foreign Exchange Reserves NOV JPY $1317.3B $1324.5B

Japan, Leading Economic Index Prel OCT JPY 91.8 91.9 92

Japan, Coincident Index Prel OCT JPY 94.8 101.1 101.5

Indonesia, Foreign Exchange Reserves NOV IDN $126.6B $126.7B

China, Foreign Exchange Reserves NOV CNY $3.096T $3.105T $3.103T

US Non Farm Payrolls NOV USD 266K 156K 180K

US Unemployment Rate NOV USD 3.5% 3.6% 3.6%

US Average Hourly Earnings MoM NOV USD 0.2% 0.4% 0.3%

US Participation Rate NOV USD 63.2% 63.3% 63.3%

US Government Payrolls NOV USD 12K -7K

US Manufacturing Payrolls NOV USD 54K -43K 36K

US Average Hourly Earnings YoY NOV USD 3.1% 3.2% 3%

US Average Weekly Hours NOV USD 34.4 34.4 34.4

US Nonfarm Payrolls Private NOV USD 254K 163K 175K

US Wholesale Inventories MoM OCT USD 0.1% -0.4% 0.2%

9-Dec-19 Japan, GDP Growth Rate QoQ Final Q3 JPY 0.4% 0.2%

Japan, GDP Growth Annualized Final Q3 JPY 1.8% 0.7%

Japan, GDP Capital Expenditure QoQ Final Q3 JPY 0.2% 1.7%

Japan, GDP Price Index YoY Final Q3 JPY 0.4% 0.6%

Japan, GDP External Demand QoQ Final Q3 JPY -0.3% -0.2%

Japan, GDP Private Consumption QoQ Final Q3 JPY 0.6% 0.4%

US Consumer Inflation Expectations NOV USD 2.33%

10-Dec-19 China, Inflation Rate YoY NOV CNY 3.8% 4.3%

China, Inflation Rate MoM NOV CNY 0.9% 0.1%

China, PPI YoY NOV CNY -1.6% -1.5%

Indonesia, Retail Sales YoY OCT IDN 0.7%

US NFIB Business Optimism Index NOV USD 102.4 102.8

US Unit Labour Costs QoQ Final Q3 USD 2.4% 3.6%

US Nonfarm Productivity QoQ Final Q3 USD 2.5% -0.3%

US API Crude Oil Stock Change DEC/06 USD -3.72M

Source: Bloomberg Lp

https://tradingeconomics.com/japan/foreign-exchange-reserves

https://tradingeconomics.com/japan/leading-economic-index

https://tradingeconomics.com/japan/coincident-index

https://tradingeconomics.com/indonesia/foreign-exchange-reserves

https://tradingeconomics.com/china/foreign-exchange-reserves

https://tradingeconomics.com/china/foreign-exchange-reserves

https://tradingeconomics.com/united-states/non-farm-payrolls

https://tradingeconomics.com/united-states/non-farm-payrolls

https://tradingeconomics.com/united-states/unemployment-rate

https://tradingeconomics.com/united-states/unemployment-rate

https://tradingeconomics.com/united-states/average-hourly-earnings


https://tradingeconomics.com/united-states/labor-force-participation-rate

https://tradingeconomics.com/united-states/labor-force-participation-rate

https://tradingeconomics.com/united-states/government-payrolls

https://tradingeconomics.com/united-states/manufacturing-payrolls

https://tradingeconomics.com/united-states/manufacturing-payrolls


https://tradingeconomics.com/united-states/average-weekly-hours

https://tradingeconomics.com/united-states/nonfarm-payrolls-private

https://tradingeconomics.com/united-states/wholesale-inventories

https://tradingeconomics.com/japan/gdp-growth

https://tradingeconomics.com/japan/gdp-growth-annualized

https://tradingeconomics.com/china/inflation-cpi

https://tradingeconomics.com/china/inflation-rate-mom

https://tradingeconomics.com/china/producer-prices-change

https://tradingeconomics.com/united-states/nfib-business-optimism-index

https://tradingeconomics.com/united-states/productivity



CORPORATE ACTION

RUPS

Date Time Company Event Place

9-Dec-19 8:30 SILO RUPSLB Aryaduta Hotel Village Lippo

10:00 BBLD RUPSLB Gedung World Trade Centre Lt 18

14:00 BMRI RUPSLB Jakarta

14:00 CANI RUPSLB Seminar BEI

12-Dec-19 10:00 ATIC RUPSLB Jakarta

14:00 KPAL RUPSLB

14:00 MRAT RUPSLB Gd Graha Mustika Ratu Lt PH

13-Dec-19 10:00 BKDP RUPSLB Kantor Perseroan

10:00 CPRO RUPSLB TBD

10:00 SSTM RUPSLB Kantor Perseroan

14:00 MARI RUPSLB

15:30 ABBA RUPSLB

Dividend

Code Status Cum- Date Ex-Date Recording Date Pay -Date Ammount (IDR)/Share

DMAS Cash Dividen 3-Dec-19 4-Dec-19 5-Dec-19 18-Dec-19 21

IPCM Cash Dividen 3-Dec-19 4-Dec-19 5-Dec-19 23-Dec-19 3

BBCA Cash Dividen 5-Dec-19 6-Dec-19 9-Dec-19 20-Dec-19 100

SCMA Cash Dividen 5-Dec-19 6-Dec-19 9-Dec-19 27-Dec-19 25

KINO Cash Dividen 11-Dec-19 12-Dec-19 13-Dec-19 27-Dec-19 25

TOWR Cash Dividen 13-Dec-19 16-Dec-19 17-Dec-19 20-Dec-19 6

IPO Company Underwriter Offering Date Listing Date IPO Price Shares (Mn)

Galva Technologies Tbk Buana Capital Sekuritas 18 - 19 Des 2019 26-Dec-19 TBA 300

Right Issue

Code OS NS Price (IDR) Cum Date Ex Date Trading Period

TRIS 1 : 2 276 26-Nov-19 27-Nov-19 02 - 06 Desember 2019

DNAR 5 : 2 197 27-Nov-19 28-Nov-19 03 - 09 Desember 2019

TNCA 2 : 3 344 8-Jan-20 9-Jan-20 14 - 20 Januari 2020

Source: KSEI and OSO Research Team



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Research Team Ike Widiawati Head of Research +62 21 2991 5300 ([email protected])

Rifqiyati Research Analyst +62 21 2991 5300 (Rifqiyati @oso-securities.com)

Sukarno Alatas Research Analyst +62 21 2991 5300 ([email protected])

Mochammad Cahyo Research Analyst +62 21 2991 5300 ([email protected])

Michelle Abadi Research Associate +62 21 2991 5300 ([email protected])

Disclosure Of Interests

As of the date of this report, 1. The research analysts primarily responsible for the preparation of all or part of this report hereby certify that:

the views expressed in this research report accurately reflect the personal views of each such analyst about the subject securities

and issuers; and

no part of the analyst’s compensation was, is, or will be directly or indirectly, related to the specific recommendations or views

expressed in this research report.

2. The research analysts primarily responsible for the preparation of all or part of this report, or his/her associate(s), do not have any interest (including any direct or indirect ownership of securities, arrangement for financial accommodation or serving as an officer) in any company mentioned in this report

3. PT OSO Securities Indonesia on a business in Indonesia in investment banking, proprietary trading or agency broking in relation

to securities

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