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OSODaily 16 September 2019

ODAY TOP STOCK TRADED (LQ45) JAKARTA COMPOSITE INDEX

6,334.84 (7.33)

-0.12%

Previous 6,342.17 Lowest

6,318.92 Highest 6,375.80 Val IDR bn

TBA

Volbn TBA Mkt Cap IDRtr

7,269.25 Net Forg 1DIDRbn (135.14) Net ForgYTDIDRbn

55,887.97

Return YTD (%) 2.27 Month to date (%)

0.10

Indices

Last Chg% 6,306.74 Americas

Dow Jones United States 27,219.52 0.14 16.68 S&P 500 United States 3,007.39 (0.07) 19.97 Nasdaq United States 8,176.71 (0.22) 23.23 EIDO United States 25.74 (0.58) 3.71 EMEA

FTSE 100 United Kingdom 7,367.46 0.31 9.50

CAC 40 France 5,655.46 0.22 19.55 D DAX Germany 12,468.53 0.47 18.08

Asia Pacific

Nikkei Japanese 21,759.61 1.05 9.86 Shanghai China 3,008.81 0.75 21.55 TWSE Taiwan 10,790.35 0.34 11.31 KOSPI Korea 2,049.20 (0.10) 0.30 KLSE Malaysia 1,601.00 0.02 (5.28) ST – Times Singapore 3,194.96 0.52 4.65 Sensex India 37,104.28 0.76 3.65 Hangseng Hongkong 27,087.63 0.98 5.83

Sectoral Previous 21,318.42 0.36 6.90 AGRICULTURE 1,352.81 1,365.81 0.96 (12.70) MINING 1,705.84 1,670.00 (2.10) (5.99) MISC INDUSTRY 1,198.04 1,198.47 0.04 (14.05) BASIC INDUSTRY 905.84 899.21 (0.73) 5.20 CONSUMER GOODS 2,369.05 2,366.02 (0.13) (7.91) PROPERTY 500.02 498.83 (0.24) 11.41 INFRASTRUKTUR 1,194.65 1,197.02 0.20 12.47 FINANCE 1,264.95 1,268.98 0.32 7.94 MANUFAKTURE 1,533.85 1,529.54 (0.28) (5.47) TRADE 814.78 812.21 (0.31) 3.61 LQ 45 992.62 992.25 (0.04) 0.97

Commodities Previous Lastest Chg% YTD%

Oil (USD/bbl) 55.09 54.85 (0.44) 34.27 Gold (USD tr.oz) 1,499.27 1,488.65 (0.71) 17.79 Nickel (USD/mtrc ton) 17,990.00 17,750.00 (1.33) 66.04 Tin (USD/mtrc ton) 17,125.00 16,475.00 (3.80) (15.40) Copper (USD/mtrc ton) 5,833.00 5,974.50 2.43 0.16 CPO (MYR/ton) 2,157.00 2,160.00 0.14 7.78 Coal (USD/ton) 69.20 69.20 - (32.49)

Currencies

Last Chg% YTD% IDR / USD

13,967.00 0.67 3.03

IDR / AUD

9,603.72 0.51 5.85 IDR / EUR

15,491.09 0.07 6.17

IDR /SGD

10,168.84 0.23 3.80 IDR / JPY

129.35 0.90 0.99

IDR / GBP

17,386.98 (0.06) 5.36 Global Macro Economics CB Rate CPI YoY GDP YoY United States 2.25 1.80 2.30 Euro Area 0.00 1.00 1.20 United Kingdom 0.75 2.10 1.20 Japan 0.10 0.50 1.00 China 4.35 2.80 6.20 Domestic macro Economics Lastest Chg% YTD% Jibor 5.00 (15.02) 28.20 GovBonds (5y) 6.70 (0.25) (15.29) GovBonds (10y) 7.26 (0.32) (9.56)

Inflasi YoY 3.49

Inflasi MoM 0.12 Bi rate 5.50 GDP Growth YoY (%) 5.05

Foreign Reserve (Bn) 126.40 Government Bonds Yield% Wow% Ytd% 7 Year 7.17 7.17 7.17 15 Year 7.70 7.70 7.70 20 Year 7.82 7.82 7.82 30 Year 8.03 8.03 8.03

Source: Bloomberg LP & OSO Research Team

Market Review Pada perdagangan akhir pekan kemarin (13/09) IHSG ditutup melemah sebesar 0.12% ke level 6.334.84. Enam dari sepuluh indeks sektoral berakhir dalam zona merah, dimana sektor pertambangan dan industri dasarmemimpin pelemahan masing-masing sebesar 2.10% dan 0.73%. Pelaku pasar asing membukukan aksi jual bersih (Netsell) senilai Rp 135 miliar. Nilai tukar rupiah terapresiasi sebesar 0.67% ke level 13.967. Global Review Pada perdagangan Jum'at (13/09) bursa saham Wall Street ditutup bervariasi dengan kecenderungan melemah, dimana S&P 500 dan Nasdaq turun masing-masing sebesar 0.07% dan 0.22% sedangkan Dow Jones menguat 0.13%. Pergerakan indeks masih cenderung terpengaruhi oleh aksi wait and see oleh pelaku pasar terhadap negoisasi perdagangan antara Amerika Serikat (AS) dan China pada bulan depan di Washington. Sedangkan dari sisi ekonomi, penjualan ritel AS meningkat pada Agustus hingga dua kali lipat dari yang diperkirakan sebelumnya atau sebesar 0.4%, hal ini menunjukkan belanja konsumen yang kuat akan terus mendukung ekspansi ekonomi AS yang paling lama berlangsung. JCI Prediction IHSG ditutup melemah sebesar 0.12% ke level 6.334. IHSG ditutup bearish candle. Adapun indikator Stochastic bearish dan MACD histogram bergerak turun dengan Volume turun. Kami perkirakan IHSG kembali bergerak melemah dengan pergerakan di kisaran 6273-6353. Major Economic Release

Industrial Production Japan bulan Juli tercatat

naik sebesar 0.7% dibandingkan sebelumnya

yang turun sebesar 3.8% (YoY).

Retail Sales United States bulan Agustus naik

sebesar 4.1% lebih tinggi dibandingkan

pertumbuhan sebelumnya sebesar 3.6%

(YoY).

Exports Prices United States bulan Agustus

turun sebesar 1.4% lebih tinggi dibandingkan

penurunan sebelumnya sebesar 0.9% (YoY).

Imports Prices United States bulan Agustus

turun sebesar 2% lebih tinggi dibandingkan

penurunan sebelumnya sebesar 1.9% (YoY).



TODAY TOP STOCK TRADED (LQ45)

Top Gainers

Last Chg% YTD% MC (T) Beta

ERAA IJ Equity

1,885 4.72 (14.32) 6.01 0.89

EXCL IJ Equity

3,450 2.99 74.24 36.87 1.18

SMGR IJ Equity

12,800 2.61 11.30 75.92 1.54

WIKA IJ Equity

2,110 1.93 27.49 18.93 1.53

JSMR IJ Equity

5,500 1.85 28.50 39.92 1.11

Top Losers

Last Chg% YTD% MC (T) Beta

ITMG IJ Equity

13,350 (5.15) (34.07) 15.08 1.34

ANTM IJ Equity

1,070 (4.46) 39.87 25.71 1.74

INCO IJ Equity

3,680 (4.42) 12.88 36.57 1.87

TPIA IJ Equity

8,900 (4.30) 50.21 158.72 0.75

ADRO IJ Equity

1,375 (4.18) 13.17 43.98 1.40

Top Volume

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

ANTM IJ Equity

1,070 128.2 39.9 25.71 1.74

ADRO IJ Equity

1,375 82.7 13.2 43.98 1.40

BRPT IJ Equity

1,040 73.8 117.6 92.57 1.36

TLKM IJ Equity

4,160 64.1 12.5 412.10 0.79

BBRI IJ Equity

4,310 56.1 17.8 531.62 1.63

Top Value

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

GGRM IJ Equity

68,800 584.1 (17.7) 132.38 0.93

BBRI IJ Equity

4,310 375.4 17.8 531.62 1.63

BMRI IJ Equity

7,200 304.4 (2.4) 336.00 1.55

TLKM IJ Equity

4,160 292.8 12.5 412.10 0.79

BBCA IJ Equity

30,150 241.4 16.0 743.35 1.02

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

IHSG

Indonesia 6,335 20.07 2.09 6,800

Nikkei

Japanese 21,988 15.61 1.67 23,986

Shanghai

China 3,031 14.69 1.52 3,285

TWSE

Taiwan 10,828 17.15 1.65 11,445

KOSPI

Korea 2,046 13.19 0.81 2,554

KLSE

Malaysia 1,601 19.40 1.62 1,688

ST - Times

Singapore 3,211 12.62 1.07 3,567

Sensex

India 37,385 25.98 2.81 42,658

Hangseng

Hongkong 27,353 10.57 1.21 32,118

OSO MANAJEMEN INVESTASI

Mutual Fund Latest 1 Month (%) YTD%

Oso Sustainability Fund

1,449.14 (0.38) (3.99) Oso Syariah Equity Fund

1,177.05 (13.76) 141.16

Source: Bloomberg LP & OSO Research Team



COMPARATION OF JCI PERFORMANCE (SEAG)


OSODaily 05 April 2019


MACRO ECONOMIC & INDUSTRY NEWS

Penjualan ritel Amerika Serikat (AS) pada Agustus meningkat melebihi ekspektasi, terlihat dari belanja konsumen

yang solid dan mendukung laju pertumbuhan ekonomi yang moderat. Penjualan ritel naik 0,4% pada bulan lalu,

terangkat oleh pengeluaran kendaraan bermotor, bahan bangunan, perawatan kesehatan dan hobi.

Pemerintah sepakat menaikkan tarif cukai rokok sebesar 23% mulai Januari 2020. Rencana tersebut telah

diumumkan Menteri Keuangan RI Sri Mulyani, Jumat (13/9). Angka tersebut terbilang tinggi dibandingkan tahun

sebelumnya.

Bank Sentral Eropa kembali mengendorkan kebijakan moneter dengan menurunkan lagi suku bunga

negatifnya. ECB menurunkan suku bunga deposito 10 basis poin dari minus 0,4% menjadi minus 0,5%. Tujuannya

agar bank lebih getol menggelontorkan kredit untuk mendorong ekonomi.

CORPORATES NEWS PT Delta Djakarta Tbk (DLTA) tengah mengupayakan pertumbuhan kinerja di semester-Ii 2019. Manajemen

optimistis usai pemilu di semester-I kemarin daya beli masyarakat akan dapat terkerek naik. Di semester-I 2019,

penjualan DLTA turun tipis 0,2% dari Rp 389,49 miliar di semester-I 2018 menjadi Rp 388,55 miliar di semester-I

2019.

PT Ratu Prabu Energi Tbk (ARTI) mencatatkan kinerja keuangan yang kurang baik selama semester I-2019. ARTI

mengantongi pendapatan Rp 108,93 miliar semester I-2019, turun 34,56% dari periode yang sama tahun lalu yang

sebesar Rp 166,47 miliar.

Prospek bisnis PT Tower Bersama Infrastructure Tbk (TBIG) terus memanjang. Manajemen Tower Bersama

Infrastructure yakin bisa memenuhi target penambahan tenant atau penyewa baru yang mencapai 3.000 tenant

hingga akhir tahun ini. Selama semester pertama tahun ini, TBIG telah menambah tenant baru mencapai 1.236

tenant.

PT Austindo Nusantara Jaya Tbk (ANJT) menjual kepemilikan sahamnya dengan nilai transaksi US$ 35,2 juta.

Pembelinya terdiri dari dua pihak ketiga, yaitu PT Evans Indonesia dan Praba Madhavan P.A. Madhavan. Secara

rinci, pembayaran dari PT Evans Indonesia adalah sebesar US$ 25,42 juta dan Praba Madhavan P.A. Madhavan US$

9,75 juta.

PT Trikomsel Oke Tbk (TRIO) menyatakan penurunan penjualan perusahaan di semester I 2019 merupakan

konsekuensi logis dari penutupan sejumlah gerai perusahaan. Pada paruh pertama 2019, pendapatan Trikomsel

jatuh 36,67% dari Rp 887,64 miliar menjadi Rp 562,11 miliar. Sementara itu, kerugian membengkak hampir tujuh

kali lipat atau sebesar 596,79% menjadi Rp 34,7 miliar dari kerugian periode sebelumnya yang hanya Rp 4,98 miliar.

Kondisi keuangan PT Summarecon Agung Tbk (SMRA) tampaknya masih solid. Pasalnya, PT Pemeringkat Efek

Indonesia Tbk (Pefindo) mempertahankan peringkat Id-A untuk PT Summarecon Agung Tbk (SMRA) dan

obligasinya.

Sumber: Kontan, Bisnis Indonesia, Iqplus

NOTE: Positive Sentiment Negative Sentiment Netral




Technical

Medium/Minor trend : Downtrend MACD line/histogram : Positif Stochastic : Bearish Volume : Meningkat

Recommendation : BUY Entry Buy : 336 – 340 Target Price : 350 – 358 Support : 328 – 330 Cutloss : 326

DAILY TECHNICAL

Bidik Proyek Multi Client Seismic, Elnusa Gandeng Perusahaan Norwegia PT Elnusa Tbk. menggandeng perusahaan asal Norwegia TGS - NOPEC Geophysical Company untuk meraih proyek survei seismik dengan metode multi klien (multi client seismic survey). Kerja sama ini bagian dari upaya perusahaan menjajaki peluang bisnis baru. Direktur Operasi Elnusa Arief Riyanto menjelaskan, melalui survei seismik metode multi client, kontraktor kontrak kerja sama (KKKS) migas tidak perlu mengeluarkan biaya survei seismik sepenuhnya, melainkan patungan dengan kontraktor migas lainnya. Elnusa menawarkan proyek ini sebagai salah satu solusi dalam menggeliatkan aktivitas eksplorasi migas tanah air.

Harga ditutup bullish candle dan menguji resistance. Harga berpeluang kembali menguji level 350. Apabila break 350 next harga ke level 358. Hati-hati jika harga tidak mampu break up atau menembus area support. Batasi resiko dengan tetap memperhatikan support. Cutloss di 326 jika sudah melewati support 328 – 330.

|ELSA|PE : 8x | PBV : 0.73x | ROE: 9.17% | NPM : 4.10% | DER : 0.79x | Fair Value : 400|

Souce: OSO Research Team

BUY

NOTE:




Technical

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


DAILY TECHNICAL

BUY |HOKI|PE : 17.71x | PBV : 3.40x | ROE: 18.96% | NPM : 6.56% | DER : 0.39x | Fair Value :950|

Semester Pertama, Laba Bersih HOKI Naik Jadi Rp56,44 Miliar PT Buyung Poetra Sembada Tbk (HOKI ) membukukan kenaikan laba bersih di Semester I -2019 (unaudited) menjadi Rp56,44 miliar dari Rp50,48 miliar pada semester pertama tahun sebelumnya. Berdasarkan keterbukaan informasi HOKI yang dirilis Bursa Efek Indonesia (BEI) di Jakarta, Selasa (30/7), kenaikan laba bersih tersebut ditopang perolehan penjualan bersih di paruh pertama tahun ini yang mencapai Rp859,49 miliar atau meningkat dari raihan pada Semester I-2018 sebesar Rp764,46 miliar. Sementara itu, pada enam bulan pertama tahun ini beban pokok penjualan HOKI tercatat sebesar Rp736,9 miliar atau meningkat dari Rp655,14 miliar.


Harga ditutup bullish candle dan menguji resistance. Harga berpeluang menguji level 870. Apabila break 870 next harga ke level 880. Hati-hati jika harga tidak mampu tembus 855 atau malah berbailk menembus area support. Batasi resiko dengan tetap memperhatikan support. Cutloss di 830 jika sudah melewati support 835 – 840.

NOTE:




Technical

Medium/Minor trend : Downtrend MACD line/histogram : Positif Stochastic : Bearish Volume : Turun


DAILY TECHNICAL

BUY |MEDC|PE : 17.0x | PBV : 0.66x | ROE: 3.90% | NPM : 4.45% | DER : 3.38x | Fair Value : 900|

MEDC | Medco Kelola Potensi Panas Bumi Bonjol Pasaman Kepala Dinas Energi dan Sumber Daya Mineral (ESDM) Provinsi Sumatera Barat Hery Martinus menyatakan potensi Pembangkit Listrik Tenaga Panas Bumi Bonjol Kabupaten Pasaman akan dikelola oleh PT Medco Energi Internasional Tbk. "Potensi panas bumi Bonjol dengan kapasitas 60 megawatt sudah selesai dilelang, dan pengembangnya PT Medco, sekarang mereka sudah mulai survei awal," katanya saat mendampingi Dirjen EBTKE FX Sutijastoto meninjau PLTP Solok Selatan, Selasa. Untuk pengembangan energi panas bumi di Sumbar, pengembang bisa belajar dari PT Supreme Energy di Solok Selatan dimana mereka sudah bisa mengidentifikasi masalah.


Harga ditutup bullish candle dan menguji resistance. Harga berpeluang kembali menguji level 780. Apabila berhasil menguji 780 next harga ke level 790. Hati-hati jika harga tidak mampu break up atau berbalik menembus area support. Batasi resiko dengan tetap memperhatikan support. Cutloss di 730 jika sudah melewati support 735 – 740.

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 1,040 (0.95) 117.57 5.56 81.94 7.57 1.13 5.21 98.23 630 -39% Sell

CPIN IJ Equity 5,150 (0.96) (28.72) 4.40 21.96 13.57 13.99 21.19 22.95 4,573 -11% Sell

INKP IJ Equity 7,050 (0.35) (38.96) 0.71 6.97 2.79 4.61 10.66 113.83 11,300 60% Buy

INTP IJ Equity 20,700 1.85 12.20 3.49 53.26 28.67 5.47 6.48 0.50 19,764 -5% Sell

JPFA IJ Equity 1,615 (0.92) (24.88) 1.94 9.99 4.57 8.00 20.16 59.63 1,760 9% Buy

SMGR IJ Equity 12,800 2.61 11.30 2.51 29.30 10.76 4.11 8.74 30.13 14,405 13% Buy

TKIM IJ Equity 10,325 1.23 (6.98) 1.73 11.30 17.20 6.95 16.45 120.71 13,000 26% Buy

TPIA IJ Equity 8,900 (4.30) 50.21 6.35 89.76 29.58 4.18 7.14 34.35 4,423 -50% Sell

Industry Average in LQ45 3.34 38.06 14.34 6.06 12.00 60.04

Total of Industry Average 1.79 25.76 10.42 2.27 (23.71) 101.08

SECTOR CONSUMER GOODS

GGRM IJ Equity 68,800 0.77 (17.73) 2.98 15.54 9.17 12.84 20.01 38.38 91,020 32% Buy

HMSP IJ Equity 2,800 (0.71) (24.53) 11.43 22.99 17.38 32.64 50.51 0.33 3,618 29% Buy

ICBP IJ Equity 11,600 (2.73) 11.00 5.94 27.82 16.57 13.48 22.92 9.06 12,128 5% Hold

INDF IJ Equity 7,500 (0.66) 0.67 1.88 13.84 5.41 4.98 14.36 59.18 8,335 11% Buy

KLBF IJ Equity 1,680 (0.59) 10.53 5.37 31.51 20.92 13.62 17.85 2.34 1,604 -5% Sell

UNVR IJ Equity 46,600 1.14 2.64 70.06 38.33 25.95 43.81 183.94 20.26 45,456 -2% Sell


Total of Industry Average 6.37 25.95 19.84 9.21 19.82 46.26

SECTOR INFRASTRUCTURE

EXCL IJ Equity 3,450 2.99 74.24 1.98 130.48 3.83 (5.11) (14.59) 125.77 3,923 14% Buy

JSMR IJ Equity 5,500 1.85 28.50 2.26 18.01 5.95 2.50 13.33 157.26 6,444 17% Buy

PGAS IJ Equity 1,965 (1.50) (7.31) 1.35 15.94 2.67 3.11 7.41 109.43 2,428 24% Buy

TLKM IJ Equity 4,160 (0.24) 12.50 4.39 20.19 6.29 9.77 22.82 37.58 4,717 13% Buy


Total of Industry Average 3.18 40.65 216.85 (4.08) (63.67) 131.60

Source: Bloomber LP





SECTOR MINING

ADRO IJ Equity 1,375 (4.18) 13.17 0.83 6.04 2.41 7.45 14.21 32.95 1,612 17% Buy

AKRA IJ Equity 4,030 (0.25) (6.06) 1.96 22.28 12.78 4.78 11.01 42.61 4,929 22% Buy

ANTM IJ Equity 1,070 (4.46) 39.87 1.29 32.13 9.39 2.47 4.14 50.26 1,256 17% Buy

INCO IJ Equity 3,680 (4.42) 12.88 1.40 496.97 21.84 0.23 0.27 1.94 4,188 14% Buy

INDY IJ Equity 1,450 (3.97) (8.52) 0.59 33.30 1.12 0.46 1.74 129.53 2,125 47% Buy

ITMG IJ Equity 13,350 (5.15) (34.07) 1.17 4.55 2.52 17.45 25.70 - 18,714 40% Buy

MEDC IJ Equity 750 (1.32) 9.49 0.75 9.06 1.47 (1.14) (5.07) 202.38 1,043 39% Buy

PTBA IJ Equity 2,560 (2.29) (40.47) 1.56 5.73 4.12 19.44 29.25 5.12 3,514 37% Buy



SECTOR MISC INDUSTRY

ASII IJ Equity 6,750 - (17.93) 1.96 12.95 7.02 6.40 15.79 49.27 7,983 18% Buy

SRIL IJ Equity 332 - (7.26) 0.84 5.24 2.30 6.72 17.23 139.64 Neutral #VALUE! #VALUE!



SECTOR PROPERTY

BSDE IJ Equity 1,350 (1.46) 7.57 0.90 8.62 8.53 5.69 11.01 46.06 1,706 26% Buy

CTRA IJ Equity 1,095 (0.90) 8.42 1.40 15.59 7.63 3.84 9.39 50.80 1,355 24% Buy

PTPP IJ Equity 1,890 0.27 4.71 0.91 8.47 3.94 2.84 11.34 74.03 2,600 38% Buy

PWON IJ Equity 680 0.74 9.68 2.40 11.79 8.72 11.10 22.42 36.44 765 13% Buy

WIKA IJ Equity 2,110 1.93 27.49 1.23 8.98 4.60 3.70 14.89 78.93 2,817 34% Buy

WSKT IJ Equity 1,770 0.28 5.36 1.33 12.19 4.76 1.58 11.35 224.10 2,276 29% Buy



Source: Bloomber LP





SECTOR TRADE

ERAA IJ Equity 1,885 4.72 (14.32) 1.30 11.72 5.01 4.54 11.78 88.81 1,947 3% Hold

LPPF IJ Equity 3,030 (0.98) (45.89) 4.70 9.44 5.06 15.33 45.23 - 4,783 58% Buy

MNCN IJ Equity 1,305 0.38 89.13 1.53 7.92 4.60 12.35 20.53 42.22 1,568 20% Buy

SCMA IJ Equity 1,290 (1.90) (31.02) 3.80 13.26 9.59 20.52 29.07 0.33 1,835 42% Buy

UNTR IJ Equity 22,775 (1.19) (16.73) 1.55 7.57 3.39 10.84 21.57 17.95 30,275 33% 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 30,150 0.17 15.96 4.66 27.23 88.15 1.40 6.53 6.30 30,749 2% Hold

BBRI IJ Equity 4,310 0.70 17.76 2.80 15.67 90.10 2.27 7.35 64.57 4,709 9% Buy

BBNI IJ Equity 7,850 (0.32) (10.80) 1.28 9.62 92.85 1.90 5.14 82.33 9,912 26% Buy

BBTN IJ Equity 2,190 (0.90) (13.78) 0.94 8.63 103.45 2.82 3.81 188.00 2,665 22% Buy

BMRI IJ Equity 7,200 0.70 (2.37) 1.81 12.74 100.47 2.75 5.36 56.75 9,009 25% Buy

BTPS IJ Equity 3,080 0.65 71.59 5.94 23.69 454.49 1.39 38.72 149.94 3,653 19% Buy



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 1,375 13.2 Negatif OverBought Positif 910 1,205 1,500 1,405 1,360 1,315 1,450 1,495 1,295 Sell

AKRA IJ Equity 4,030 (6.1) Positif Trading Negatif 3,935 4,120 4,310 4,050 4,015 3,980 4,085 4,120 3,920 Hold

ANTM IJ Equity 1,070 39.9 Negatif Trading Negatif 1,000 1,080 1,160 1,095 1,060 1,025 1,130 1,165 1,005 Sell

ASII IJ Equity 6,750 (17.9) Negatif Trading Positif 6,275 6,575 6,875 6,800 6,725 6,650 6,875 6,950 6,550 Hold

BBCA IJ Equity 30,150 16.0 Negatif Trading Positif 29,775 30,100 30,450 30,275 30,075 29,875 30,475 30,675 29,425 Hold

BBNI IJ Equity 7,850 (10.8) Negatif Trading Positif 7,350 7,650 7,950 7,900 7,825 7,750 7,975 8,050 7,625 Hold

BBRI IJ Equity 4,310 17.8 Positif Trading Positif 4,030 4,180 4,330 4,310 4,295 4,270 4,335 4,350 4,205 Speculative Buy

BBTN IJ Equity 2,190 (13.8) Negatif Trading Positif 1,965 2,125 2,280 2,200 2,170 2,140 2,230 2,260 2,110 Hold

BMRI IJ Equity 7,200 (2.4) Negatif Trading Positif 6,850 7,125 7,375 7,200 7,150 7,075 7,275 7,325 6,975 Hold

BRPT IJ Equity 1,040 117.6 Positif OverBought Positif 640 920 1,195 1,045 1,020 990 1,075 1,100 975 Hold

BSDE IJ Equity 1,350 7.6 Negatif Trading Positif 1,300 1,350 1,405 1,360 1,340 1,315 1,385 1,405 1,295 Hold

BTPS IJ Equity 3,080 71.6 Negatif Trading Negatif 2,960 3,175 3,390 3,075 3,035 2,995 3,115 3,155 2,950 Sell

CPIN IJ Equity 5,150 (28.7) Negatif Trading Positif 4,430 4,865 5,300 5,200 5,100 4,990 5,300 5,400 4,915 Hold

CTRA IJ Equity 1,095 8.4 Negatif Trading Positif 970 1,125 1,280 1,105 1,085 1,070 1,120 1,140 1,050 Hold

ERAA IJ Equity 1,885 (14.3) Negatif Trading Positif 1,355 1,650 1,945 1,845 1,800 1,755 1,890 1,935 1,725 Hold

EXCL IJ Equity 3,450 74.2 Negatif Trading Negatif 3,160 3,370 3,580 3,410 3,355 3,310 3,455 3,510 3,260 Sell

GGRM IJ Equity 68,800 (17.7) Negatif Oversold Negatif 63,850 71,450 79,050 68,775 68,475 68,000 69,250 69,550 66,975 Speculative Buy

HMSP IJ Equity 2,800 (24.5) Negatif Trading Positif 2,570 2,800 3,030 2,825 2,795 2,775 2,845 2,875 2,730 Hold

ICBP IJ Equity 11,600 11.0 Positif Trading Negatif 11,600 11,875 12,150 11,700 11,575 11,425 11,850 11,975 11,250 Hold

INCO IJ Equity 3,680 12.9 Negatif Trading Positif 3,090 3,585 4,080 3,745 3,655 3,565 3,835 3,925 3,510 Hold

INDF IJ Equity 7,500 0.7 Positif Trading Negatif 7,500 7,800 8,125 7,500 7,450 7,375 7,575 7,625 7,275 Hold

INDY IJ Equity 1,450 (8.5) Negatif Trading Positif 1,265 1,400 1,535 1,480 1,445 1,405 1,520 1,555 1,385 Hold

INKP IJ Equity 7,050 (39.0) Positif Trading Positif 6,550 6,975 7,425 7,100 7,025 6,925 7,200 7,275 6,825 Speculative Buy

source: Bloomberg 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

INTP IJ Equity 20,700 12.2 Positif Trading Negatif 20,150 21,400 22,625 20,500 20,275 19,950 20,825 21,050 19,650 Hold

ITMG IJ Equity 13,350 (34.1) Positif Trading Positif 11,225 13,125 15,050 13,675 13,325 12,900 14,100 14,450 12,725 Speculative Buy

JPFA IJ Equity 1,615 (24.9) Negatif Trading Positif 1,490 1,580 1,670 1,625 1,610 1,595 1,640 1,655 1,570 Hold

JSMR IJ Equity 5,500 28.5 Negatif Trading Positif 5,250 5,525 5,800 5,450 5,400 5,325 5,525 5,575 5,250 Hold

KLBF IJ Equity 1,680 10.5 Negatif OverBought Negatif 1,570 1,650 1,725 1,675 1,665 1,640 1,700 1,710 1,615 Strong Sell

LPPF IJ Equity 3,030 (45.9) Negatif Trading Positif 2,920 3,050 3,180 3,060 3,020 2,990 3,090 3,130 2,945 Hold

MEDC IJ Equity 750 9.5 Positif Trading Positif 715 750 785 755 745 735 765 775 725 Speculative Buy

MNCN IJ Equity 1,305 89.1 Negatif Trading Positif 1,220 1,275 1,325 1,305 1,280 1,265 1,320 1,345 1,245 Hold

PGAS IJ Equity 1,965 (7.3) Negatif Trading Positif 1,830 1,950 2,065 1,985 1,955 1,930 2,010 2,040 1,900 Hold

PTBA IJ Equity 2,560 (40.5) Negatif Trading Positif 2,305 2,500 2,690 2,605 2,545 2,505 2,645 2,705 2,465 Hold

PTPP IJ Equity 1,890 4.7 Negatif Trading Positif 1,725 1,855 1,985 1,890 1,865 1,845 1,910 1,935 1,815 Hold

PWON IJ Equity 680 9.7 Negatif Trading Positif 605 650 700 675 670 655 690 695 645 Hold

SCMA IJ Equity 1,290 (31.0) Negatif Trading Positif 1,125 1,225 1,325 1,300 1,280 1,255 1,325 1,345 1,235 Hold

SMGR IJ Equity 12,800 11.3 Positif Trading Negatif 12,425 13,050 13,700 12,675 12,450 12,250 12,875 13,100 12,050 Hold

SRIL IJ Equity 332 (7.3) Negatif Oversold Positif 331 335 340 333 332 331 334 335 326 Speculative Buy

TKIM IJ Equity 10,325 (7.0) Positif Trading Positif 9,200 9,950 10,700 10,250 10,175 10,050 10,375 10,450 9,900 Speculative Buy

TLKM IJ Equity 4,160 12.5 Negatif Oversold Negatif 4,155 4,335 4,510 4,195 4,160 4,125 4,230 4,265 4,065 Speculative Buy

TPIA IJ Equity 8,900 50.2 Negatif OverBought Negatif 7,975 8,750 9,500 8,875 8,450 7,550 9,775 10,200 7,450 Strong Sell

UNTR IJ Equity 22,775 (16.7) Negatif Trading Positif 18,950 21,225 23,525 22,975 22,650 22,175 23,450 23,775 21,825 Hold

UNVR IJ Equity 46,600 2.6 Positif Trading Negatif 44,425 46,800 49,200 46,350 46,075 45,825 46,600 46,875 45,125 Hold

WIKA IJ Equity 2,110 27.5 Negatif Trading Positif 1,905 2,170 2,435 2,100 2,070 2,040 2,130 2,160 2,010 Hold

WSKT IJ Equity 1,770 5.4 Negatif Trading Positif 1,665 1,755 1,850 1,765 1,755 1,735 1,785 1,795 1,710 Hold

source: Bloomberg Lp



MAJOR ECONOMIC RELEASE CALENDAR

Date Event Country Act Prev Cons

13-Sep-19 Japan, Industrial Production YoY Final JUL JPY 0.70% -3.8% 0.7

Japan, Industrial Production MoM Final JUL JPY 1.30% -3.3% 1.3%

Japan, Capacity Utilization MoM JUL JPY 1.10% -2.6% US Retail Sales MoM AUG USD 0.40% 0.8% 0.3%

US Export Prices YoY AUG USD -1.40% -0.9% US Export Prices MoM AUG USD -0.60%

0.2% -0.3%

US Import Prices YoY AUG USD -2% -1.90%

US Import Prices MoM USD -0.50% 0.10% -0.4%

US Retail Sales YoY AUG USD 4.10% 3.6%

16-Sep-19 China, Fixed Asset Investment (YTD) YoY AUG CNY

5.7%

China, Industrial Production YoY AUG CNY

4.8%

China, Retail Sales YoY AUG CNY

7.6%

Indonesia, Balance of Trade AUG IDN

$-0.06B

Indonesia, Exports YoY AUG IDN

-5.12% Indonesia, Imports YoY AUG IDN

-15.21%

17-Sep-19 China, House Price Index YoY AUG CNY

9.70% US Industrial Production YoY AUG USD

0.50%

US Industrial Production MoM AUG USD

-0.20% 0.20%

US Manufacturing Production YoY AUG USD

-0.50% US Manufacturing Production MoM AUG USD

-0.40% 0.20%

US Capacity Utilization AUG USD

77.50% 77.60%

US NAHB Housing Market Index SEP USD

66 66

US Overall Net Capital Flows JUL USD

$1.7B US Foreign Bond Investment JUL USD

$-7.7B

US Net Long-Term Tic Flows JUL USD

$99.1B US API Crude Oil Stock Change SEP/13 USD

-7.2M

Source: Bloomberg Lp

https://tradingeconomics.com/japan/industrial-production

https://tradingeconomics.com/japan/industrial-production

https://tradingeconomics.com/japan/industrial-production-mom

https://tradingeconomics.com/japan/industrial-production-mom

https://tradingeconomics.com/japan/capacity-utilization

https://tradingeconomics.com/united-states/retail-sales

https://tradingeconomics.com/united-states/retail-sales

https://tradingeconomics.com/united-states/export-prices

https://tradingeconomics.com/united-states/export-prices

https://tradingeconomics.com/united-states/import-prices

https://tradingeconomics.com/united-states/import-prices

https://tradingeconomics.com/united-states/retail-sales-annual

https://tradingeconomics.com/united-states/industrial-production-mom

https://tradingeconomics.com/united-states/capacity-utilization

https://tradingeconomics.com/united-states/nahb-housing-market-index



CORPORATE ACTION

RUPS

Date Time Company Event Place

12-Sep-19 14:00 MKNT RUPSLB Jakarta

16-Sep-19 TBA PSSI RUPSLB TBA

17-Sep-19 14:00 PANI RUPSLB Aula Serbaguna Dahlia Apartemen Kedoya

18-Sep-19 10:00 INAF RUPSLB Hotel Borobudur Jakarta 14:00 KAEF RUPSLB Hotel Borobudur Jakarta

25-Sep-19 9:00 KONI RUPSLB Hotel Lumire

13:00 RIGS RUPS Hotel Park Rigs Arion Kemang 14:00 BYAN RUPSLB Mercantile Athletic Club WTC I 14:00 GOLL RUPSLB Plaza Mutiara 14:00 MDKA RUPSLB Grand Aston

26-Sep-19 9:00 MICE RUPSLB Kantor Pusat MICE 10:00 TIRA RUPSLB Ruang Seminar TIRA

10:30 NIPS RUPSLB Hotel Salak Bogor Lt 4

27-Sep-19 10:00 HEXA RUPS Kantor Pusat HEXA

11:00 VINS RUPSLB Gedung Graha BIP

14:00 ACST RUPSLB Ruang Seminar BEI 14:00 ENRG RUPSLB Bakrie Tower Lt 25 14:30 BSSR RUPSLB TBA Dividend

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

TGKA Cash Dividen 6-Sep-19 9-Sep-19 10-Sep-19 19-Sep-19 35

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

Bhakti Agung Propertindo Tbk MNC Sekuritas 03 - 09 September 2019 16-Sep-19 150 1,677

Telefast Indonesia Tbk Sinarmas Sekuritas 09 - 11 September 2019 17-Sep-19 180 416

Gunung Raja Paksi Tbk Kresna Sekuritas 13 - 16 September 2019 19-Sep-19 825 - 900 1,240

Optima Prima Metal Sinergi Tbk Sinarmas Sekuritas 12 - 16 September 2019 23-Sep-19 125 - 135 400

Nusantara Almazia Tbk Sinarmas Sekuritas 17 - 18 September 2019 25-Sep-19 200 - 220 461

Trinitan Metals & Minerals Tbk Mirae Asset Sekuritas 23 - 27 September 2019 1-Oct-19 270 - 300 333

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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