Technical Research. Wednesday, 29 th April 2020 JAKARTA COMPOSITE INDEX (JCI): (+0.36%) Daily Signal Forecast :

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Technical Research

Wednesday, 29

^th

April 2020

JAKARTA COMPOSITE INDEX (JCI): 4529.55 (+0.36%)

Value: RG 5.0 T (NG 1.3 T); Foreign Net Sell 1.105 T

Minimum Daily Range (est): 4443.63 – 4569.16

Commentary: JCI chart rose 0.36% at level 4529.55 during the end of trading session on 28 April 2020. Based on the fibonacci retracement, the first and second support are ranging around level 4443.63 and 4318.10. Meanwhile, the first and second resistance are ranging around level 4569.16 and 4747.88. Based on the indicator, MACD shall establish a dead cross formation at the negative area. Meanwhile, Stochastic and RSI are negative. Nevertheless, an upward bar is detected signifying the bulls are in control. On the upside, JCI shall ascend to the nearest resistance.

Komentar: IHSG berhasil ditutup menguat 0.36% di level 4529.55 pada 28 April 2020. Berdasarkan rasio fibonacci, support pertama maupun kedua memiliki range pada level 4443.63 hingga 4318.10. Sementara itu, resistance pertama maupun kedua memiliki range pada 4569.16 hingga 4747.88. Berdasarkan indikator, MACD berpotensi membentuk pola dead cross di area negatif. Sementara itu, Stochastic dan RSI menunjukkan sinyal negatif.

Meskipun demikian, terlihat pola upward bar yang mengindikasikan adanya potensi penguatan lanjutan pada pergerakan IHSG sehingga berpeluang menuju ke resistance terdekat.

Analyst: Muhammad Nafan Aji Gusta Utama E-Mail: [email protected]

JCI, Daily

Daily Signal

“Forecast”:

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PT. Astra Agro Lestari Tbk. (AALI) 5975

Recommendation: BUY

AALI, Daily

Commentary: AALI stock chart rose at level 5975 during the end of trading session on 28 April 2020. The target prices at level 5625 and 6600 were reached successfully. The price is above the lower band of the bollinger and a bullish engulfing line candlestick pattern is detected signifying buying stimulus. “Accumulative Buy” around level 5700 – 6000 area, with target prices at level 6225, 6775 and 7350.

Komentar: AALI ditutup menguat di level 5975 pada 28 April 2020. Adapun target harga pada level 5625 dan 6600 berhasil tercapai dengan baik. Pergerakan harga masih bertahan di atas garis bawah dari bollinger dan terlihat pola bullish engulfing line candlestick pattern yang mengindikasikan adanya potensi stimulus beli. “Akumulasi Beli” pada area 5700 – 6000, dengan target harga secara bertahap di level level 6225, 6775 dan 7350.

Indicator: Status:

MACD (12;26;9) Buy

RSI (14) Neutral

RoE: 1.11%; PER: 52.43x; EPS: 111.11; PBV: 0.59x; Beta: 1.61

Support: 5525, 5350 & 5100.

Short term target price(s) (1 day - 3 weeks): 6225 & 6775 Mid term target price(s) (3 weeks - 3 months): 7350.

Long term target price(s) (3 months - 1 year): -

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PT. Bank Negara Indonesia Tbk. (BBNI) 3820

Recommendation: BUY

BBNI, Daily

Commentary: BBNI stock chart rose at level 3820 during the end of trading session on 28 April 2020. The price is above the lower band of the bollinger and a bullish matching low candlestick pattern is detected signifying buying stimulus. “Accumulative Buy” around level 3750 – 3820 area, with target prices at level 3950, 4080, 4240, 4620 and 5000.

Komentar: BBNI ditutup menguat di level 3820 pada 28 April 2020. Pergerakan harga masih bertahan di atas garis bawah dari bollinger dan terlihat pola bullish matching low candlestick pattern yang mengindikasikan adanya potensi stimulus beli. “Akumulasi Beli” pada area 3750 – 3820, dengan target harga di level 3950, 4080, 4240, 4620 dan 5000.

MACD (12;26;9) Buy

RoE: 12.31%; PER: 4.59; EPS: 831.59; PBV: 0.56; Beta: 2.04

Support: 3650 & 3470.

Short term target price(s) (1 day - 3 weeks): 3950, 4080, & 4240, Mid term target price(s) (3 weeks - 3 months): 4620 & 5000.

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PT. Bank CIMB Niaga Tbk. (BNGA) 640

Recommendation: BUY

BNGA, Daily

Commentary: BNGA stock chart rose at level 640 during the end of trading session on 28 April 2020. All target prices at level 620, 645, 665, 680 and 735 were reached successfully. The price is above the lower band of the bollinger and an upward bar is detected signifying buying stimulus. “Accumulative Buy” around level 620 – 640 area, with target prices at level 670, 710 and 750.

Komentar: BNGA ditutup menguat di level 640 pada 28 April 2020. Adapun seluruh target harga pada level 620, 645, 665, 680 dan 735 berhasil tercapai dengan baik. Pergerakan harga masih bertahan di atas garis bawah dari bollinger dan terlihat pola upward bar yang mengindikasikan adanya potensi stimulus beli. “Akumulasi Beli” pada area 620 – 640, dengan target harga secara bertahap di level 670, 710 dan 750.

MACD (12;26;9) Neutral

Support: 590.

Short term target price(s) (1 day - 3 weeks): 670, 710 & 750.

Mid term target price(s) (3 weeks - 3 months): - Long term target price(s) (3 months - 1 year): -

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PT. Indocement Tunggal Prakarsa Tbk. (INTP) 10550

Recommendation: BUY

INTP, Daily

Commentary: INTP stock chart rose at level 10550 during the end of trading session on 28 April 2020. A target price at level 11725 was reached successfully. The price is above the lower band of the bollinger and an upward bar is detected signifying buying stimulus. “Accumulative Buy” around level 10400 – 10600 area, with target prices at level 11725, 12925, 13850, 14525 and 17300.

Komentar: INTP ditutup menguatdi level 10550 pada 28 April 2020. Adapun target harga pada level 11725 berhasil tercapai dengan baik. Pergerakan harga masih bertahan di atas garis bawah dari bollinger dan terlihat pola upward bar yang mengindikasikan adanya potensi penguatan. “Akumulasi Beli” pada area level 10400 – 10600, dengan target harga secara bertahap di level 11725, 12925, 13850, 14525 dan 17300.

Support: 10400 & 9600.

Short term target price(s) (1 day - 3 weeks): 11725 & 12925.

Mid term target prie(s) (3 weeks - 3 months): 13850 & 14525.

Long term target price(s) (3 months - 1 year): 17300.

MACD (12;26;9) Buy

RSI (14) Oversold

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PT. Matahari Department Store Tbk. (LPPF) 1245

Recommendation: BUY

LPPF, Daily

Commentary: LPPF stock chart rose at level 1245 during the end of trading session on 28 April 2020. The price is above the lower band of the bollinger and an upward bar is detected signifying buying stimulus. “Accumulative Buy”

around level 1230 – 1250 area, with target prices at level 1325, 1505, 1685 and 1865.

Komentar: LPPF ditutup menguat di level 1245 pada 28 April 2020. Pergerakan harga masih bertahan di atas garis bawah dari bollinger dan terlihat pola upward bar yang mengindikasikan adanya potensi stimulus beli. “Akumulasi Beli” pada area level 1230 – 1250, dengan target harga secara bertahap di level level 1325, 1505, 1685 dan 1865.

MACD (12;26;9) Buy

Support: 1145.

Mid term target price(s) (3 weeks - 3 months): 1685 & 1865.

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PT. Wijaya Karya Bangunan Gedung Tbk. (WEGE) 154

Recommendation: BUY

WEGE, Daily

Commentary: WEGE stock chart remained stagnant at level 154 during the end of trading session on 28 April 2020.

The price is above the lower band of the bollinger and a bullish doji star candle is detected signifying buying stimulus.

“Accumulative Buy” around level 150 – 155 area, with target prices at level 163, 171, 180, 202 and 224.

Komentar: WEGE ditutup stagnan di level 154 pada 28 April 2020. Pergerakan harga masih bertahan di atas garis bawah dari bollinger dan terlihat pola bullish doji star candle yang mengindikasikan adanya potensi stimulus beli.

“Akumulasi Beli” pada area level 150 – 155, dengan target harga secara bertahap di level 163, 171, 180, 202 dan 224.

MACD (12;26;9) Neutral

RSI (14) Oversold

RoE: 18.36%; PER: 3.32x; EPS: 47.05; PBV: 0.61x; Beta: N/A

Support: 146 & 136.

Mid term target price(s) (3 weeks - 3 months): 180 & 202.

Long term target price(s) (3 months - 1 year): 224.

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STOCK RECOMMENDATION UPDATES

Stock Date Buy Area Target Profit Protection Status

ACES 22/4/2020 1230 – 1280 1295, 1345 and 1535 Switch to 1345 Hold ADRO 24/4/2020 900 – 910 960 and 1210 Switch to 960 Hold

AKRA 28/4/2020 1980 – 2050 2080, 2190, 2320, 2630 and 2940

Switch to 2320 Hold ANTM 20/4/2020 500 – 520 560, 615, 660 and

830

404 Hold

ASII 24/4/2020 3650 – 3760 4000, 4450, 4760 and 6100

3420 Hold

ASRI 8/4/2020 120 – 125 144, 169, 188, 202 and 260

100 Hold

AUTO 7/4/2020 780 – 840 885, 980, 1055, 1105 and 1325

715 Hold

BBTN 15/4/2020 925 - 995 1170 and 1660 800 Hold

BBRI 22/4/2020 2640 - 2720 2860, 3060, 3220, 3330 and 3810

Switch to 2860 Hold BEEF 28/4/2020 196 - 200 232, 252, 266 and

326

178 Hold

BJTM 31/3/2020 408 – 438 478, 505, 525, 540 and 600

Switch to 540 Hold BMRI 27/4/2020 4220 – 4280 4500, 4880, 5175,

5400 and 6275

4080 Hold

CPIN 27/4/2020 4050 – 4080 4320, 4580, 4770, 4910 and 5500

3880 Hold

CTRA 23/4/2020 515 – 535 585, 640 and 870 405 Hold

ELSA 22/4/2020 180 – 184 191, 212, 228 and 290

Switch to 212 Hold ERAA 27/4/2020 1100 – 1150 1260, 1370, 1475 and

1585

1045 Hold

EXCL 15/4/2020 2170 - 2270 2440, 2560, 2650 and 3010

Switch to 2560 Hold GGRM 28/4/2020 42500 - 43500 44575, 48700 and

66125

38725 Hold

GIAA 1/4/2020 179 – 181 194, 204, 212 and 240

Switch to 212 Hold HMSP 28/4/2020 1510 – 1540 1660, 1820, 2190 and

2550

1430 Hold

HOKI 22/4/2020 685 – 695 720, 750, 770 and 645 Hold

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STOCK RECOMMENDATION UPDATES

ICBP 9/4/2020 9325 – 9625 9850, 10050, 10175 and 10750

Switch to 10175 Hold IPCC 24/3/2020 224 – 234 404, 530, 620 and

1000

61 Hold

IMAS 7/4/2020 450 - 550 640, 710, 760 and 970

390 Hold

INCO 9/4/2020 2150 – 2210 2370, 2490, 2580 and 2950

Switch to 2580 Hold INDF 28/4/2020 6200 – 6300 6400, 6675, 6750 and

7275

Switch to 6400 Hold INDY 27/4/2020 655 – 715 740, 905, 1030, 1120

and 1500

Switch to 740 Hold ISAT 1/4/2020 1465 - 1555 1645, 1710, 1760 and

1955

Switch to 1955 Take Profit at Market Price

ITMG 27/4/2020 6600 – 6900 7250, 7850, 8275 and 10050

6475 Hold

JPFA 27/4/2020 865 – 895 970, 1065, 1140, 1190 and 1415

800 Hold

KLBF 30/3/2020 970 – 1010 1045, 1070, 1090 and 1175

LPKR 21/4/2020 136 – 140 151, 166, 179, 187 and 224

122 Hold

LSIP 24/4/2020 615 – 645 695, 755 and 1000 510 Hold

MAIN 23/4/2020 482 – 555 585, 640, 685 and 855

Switch to 640 Hold MAPI 15/4/2020 520 - 530 575, 640, 690, 730

and 880

Switch to 690 Hold MYOR 3/4/2020 1710 - 1810 1895, 1975, 2030 and

2270

PNLF 15/1/2020 276 - 280 284, 306, 330 and 352

Switch to 284 Hold PTBA 2/3/2020 2190 – 2250 2440, 2770, 3100 and

3430

Switch to 2440 Hold SCMA 20/3/2020 620 – 640 740, 825, 885 and

1130

Switch to 885 Hold SMGR 16/4/2020 6950 – 7150 7650, 8275, 8775,

9125 and 10575

6550 Hold

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STOCK RECOMMENDATION UPDATES

TBIG 30/3/2020 825 – 875 920, 955, 975 and 1070

Switch to 975 Take Profit at Market Price

TINS 7/4/2020 452 – 515 595, 660, 710 and 900

368 Hold

TLKM 19/3/2020 2740 – 2810 2910, 3010, 3070 and 3340

TOWR 30/3/2020 670 – 680 710, 725, 735 and 775

Switch to 775 Take Profit at Market Price

UNTR 24/4/2020 16000 – 16200 17375, 18850, 22275 and 25700

14625 Hold

UNVR 22/4/2020 6800 - 7000 7200, 7725, 8950 dan 10175

Switch to 7725 Hold WEGE 17/3/2020 160 - 166 190, 204, 214 and

256

130 Hold

WIKA 24/3/2020 750 - 775 955, 1100, 1205 and 1635

Switch to 1205 Hold WSBP 7/4/2020 143 – 173 200, 230, 250 and

336

121 Hold

WSKT 7/4/2020 515 - 635 775, 910, 1010 and 1415

410 Hold

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Indicators

•MACD (Moving Average Convergence Divergence): momentum indicator.

•RSI (Relative Strength Index): compares the magnitude of recent gains to recent losses in attempt to determine ‘overbought’ and ‘oversold’ conditions of the asset.

•Stochastic: technical momentum indicator that compares a currency pair’s closing price to its price range over a given time period.

RESEARCH TEAM

(62-21) 520-6678 ext. 610 / 612

Disclaimer: PT Binaartha Sekuritas has compiled this report in good faith, using information believed to be reliable. PT Binaartha Sekuritas and its analyst take no responsibility for the accuracy of the information contained in this report. This report has been produced for distribution to clients of PT Binaartha Sekuritas only. This report is not an invitation to buy or sell any security. PT Binaartha Sekuritas may have used the information in this report prior to publication. The company or its clients