Technical Research

Thursday, 23rd November 2017

JAKARTA COMPOSITE INDEX (JCI): 6069.785Daily Range: 6027.351 – 6092.557

Commentary: JCI chart surged 0,63% at level 6069.785 during the end of trading session on 22 November 2017.Based on the daily pivot from Bloomberg data, first and second support are at level 6048.568 and 6027.351.Meanwhile, first and second resistance are at level 6081.171 and 6092.557. Based on the daily indicator, MACDshall establish a golden cross formation at the positive area. Meanwhile, Stochastic and RSI are neutral. A whiteopening marubozu candle is detected bullish continuation. Therefore, index will eventually ascend towards theresistance between level 6081 and 6093, on the upside.

Komentar: IHSG ditutup menguat 0,63% di level 6069.785 pada 22 November 2017. Berdasarkan daily pivot dariBloomberg, support pertama dan kedua berada pada level 6048.568 dan 6027.351. Sementara itu, resistancepertama dan kedua berada pada level 6081.171 dan 6092.557. Berdasarkan indikator daily, MACD akanmembentuk pola golden cross di area positif. Sementara itu, Stochastic dan RSI berada di area netral. Terlihat polawhite opening marubozu candle yang mengindikasikan adanya potensi bullish continuation pada pergerakan indekssaham. Dengan demikian, IHSG akan berpotensi menuju ke area resistance pada level 6081 dan 6093.

Analyst: M. Nafan Aji Gusta UtamaE-Mail: muhammad.nafan@binaartha.com

JCI, Daily JCI, Hourly

PT. Astra Agro Lestari Tbk. (AALI) 14300

Recommendation: BUY

AALI, Daily

Commentary: AALI stock chart fell at level 14300 during the end of trading session on 22 November 2017. A bullish inverted hammer candle is detected signifying buying stimulus. On the upside, the price will eventually ascend to the resistance. “Accumulative Buy” around level 14200 - 14300 area, with target prices at level 14525, 14975, 15325, 15600 and 16125.

Komentar: AALI ditutup melemah di level 14300 pada 22 November 2017. Saat ini, terlihat pola bullish inverted hammer candle yang mengindikasikan adanya potensi stimulus beli. “Akumulasi Beli” pada area level 14200 - 14300,dengan target harga secara bertahap di level 14525, 14975, 15325, 15600 dan 16125.

Indicator: Status:

MACD (12;26;9) Neutral

RSI (14) Neutral

RoE: 10.22%; PER: 14.59x; PBV: 1.51x; Beta: 0.15

Support: 14125.

Resistance: 14525, 14975, 15325, 15600 & 16125.

PT. Bekasi Fajar Industrial Estate Tbk. (BEST) 276

Recommendation: BUY

BEST, Daily

Commentary: BEST stock chart rose at level 276 during the end of trading session on 22 November 2017. A bullish harami candlestick pattern is detected signifying buying stimulus. On the upside, the price will eventually ascend to the resistance. “Accumulative Buy” around level 272 – 276 area, with target prices at level 288, 302 and 324.

Komentar: BEST ditutup menguat di level 276 pada 22 November 2017. Saat ini, terlihat pola bullish harami candlestick pattern yang mengindikasikan adanya potensi stimulus beli. “Akumulasi Beli” pada area level 272 – 276,dengan target harga secara bertahap di level 288, 302 dan 324.

Indicator: Status:

MACD (12;26;9) Neutral

RSI (14) Neutral

RoE: 10.15%; PER: 6.92x; PBV: 0.71x; Beta: 2.6

Support: 256.

Resistance: 288, 302 & 324.

PT. Dharma Samudera Fishing Tbk. (DSFI) 117

Recommendation: BUY

DSFI, Daily

Commentary: DSFI stock chart fell at level 117 during the end of trading session on 22 November 2017. A target price at level 124 was reached successfully. The daily trend is accumulating in order to establish long positions. On the upside, the price will eventually ascend to the resistance. “Accumulative Buy” around level 114 - 117 area, with target prices at level 125, 134 and 142.

Komentar: DSFI ditutup melemah di level 117 pada 22 November 2017. Adapun target harga pada level 124 berhasil tercapai. Tren membentuk fase akumulasi dalam rangka membentuk pola uptrend ke depannya. “Akumulasi Beli” pada area level 114 - 117, dengan target harga secara bertahap di level 125, 134 dan 142.

Indicator: Status:

MACD (12;26;9) Neutral

RSI (14) Neutral

RoE: 7.04%; PER: 20.32x; PBV: 1.40x; Beta: 1.52

Support: 110.

Resistance: 125, 134 & 142.

PT. Indofood CBP Sukses Makmur Tbk. (ICBP) 8825

Recommendation: BUY

ICBP, Daily

Commentary: ICBP stock chart fell at level 8825 during the end of trading session on 22 November 2017. A target price at level 8875 was reached successfully. The price is above the middle band of the bollinger and a bullish dragonfly doji candle is detected signifying buying stimulus. On the upside, the price will eventually ascend to the resistance. “Accumulative Buy” around level 8750 – 8825 area, with target prices at level 9000 and 9225.

Komentar: ICBP ditutup melemah di level 8825 pada 22 November 2017. Adapun target harga pada level 8875 berhasil tercapai. Saat ini, harga bertahan di atas garis tengah dari bollinger dan terlihat pola bullish dragonfly doji candle yang mengindikasikan adanya potensi stimulus beli. “Akumulasi Beli” pada area level 8750 – 8825, dengan target harga secara bertahap di level 9000 dan 9225.

Indicator: Status:

MACD (12;26;9) Neutral

RSI (14) Neutral

RoE: 19.58%; PER: 25.46x; PBV: 4.97x; Beta: 1.18

Support: 8550.

Resistance: 9000 & 9225.

PT. Pp Persero Tbk. (PTPP) 2730

Recommendation: BUY

PTPP, Daily

Commentary: PTPP stock chart fell at level 2730 during the end of trading session on 22 November 2017. A target price at level 2810 was reached successfully. The price is above the lower band of the bollinger and a bullish spinning top candle was established signifying buying stimulus. On the upside, the price will eventually ascend to the resistance. “Accumulative Buy” around level 2690 – 2730 area, with target prices at level level 2810 and 3110.

Komentar: PTPP ditutup melemah di level 2730 pada 22 November 2017. Adapun target harga pada level 2810 berhasil tercapai. Saat ini, harga bertahan di atas garis bawah dari bollinger dan sebelumnya terlihat pola a bullish spinning top candle yang mengindikasikan adanya potensi stimulus beli. “Akumulasi Beli” pada area level 2690 –2730, dengan target harga secara bertahap di level 2810 dan 3110.

Indicator: Status:

MACD (12;26;9) Neutral

RSI (14) Neutral

RoE: 10.36%; PER: 13.01x; PBV: 1.35x; Beta: 1.6

Support: 2690 & 2510.

Resistance: 2810 & 3110.

PT. Sawit Sumbermas Sarana Tbk. (SSMS) 1475

Recommendation: BUY

SSMS, Daily

Commentary: SSMS stock chart rose at level 1475 during the end of trading session on 22 November 2017. A bullish inverted hammer candle was established signifying buying stimulus. On the upside, the price will eventually ascend to the resistance. “Accumulative Buy” around level 1465 – 1475 area, with target prices at level 1530, 1630 and 1795.

Komentar: SSMS ditutup menguat di level 1475 pada 22 November 2017. Sebelumnya, terlihat pola bullish inverted hammer candle yang mengindikasikan adanya potensi stimulus beli. “Akumulasi Beli” pada area level 1465 – 1475,dengan target harga secara bertahap di level 1530, 1630 dan 1795.

Indicator: Status:

MACD (12;26;9) Neutral

RSI (14) Neutral

RoE: 24.66%; PER: 14.60x; PBV: 3.61x; Beta: 1.84

Support: 1445 & 1365.

Resistance: 1530, 1630 & 1795.

STOCK RECOMMENDATION UPDATES

Stock Date Buy Area Target Profit Protection Status for Today

ADHI 15/11/2017 2170 - 2200 2280, 2350 and 2470 2120 Hold

AGRO 3/11/2017 515 - 525 540, 615 and 655 Switch to 540 Hold

AKRA 21/11/2017 6625 - 6650 6975, 7575, 7950 and8550

6375 Hold

ASII 22/11/2017 8075 - 8125 8425, 8525 and 8650 7800 Hold

ASRI 22/11/2017 380 - 386 396, 408 and 416 Switch to 396 Hold

BBCA 14/11/2017 20400 - 20475 21375 20000 Hold

BJBR 16/11/2017 2260 - 2350 2470, 2570 and 2750 2340 Hold

BJTM 17/11/2017 690 - 700 710, 720 and 755 Switch to 720 Hold

BMRI 15/11/2017 6850 - 6950 7125 and 7425 Switch to 7425 Take Profit at Market Price

BMTR 20/11/2017 565 - 580 600, 620 and 660 550 Hold

ELSA 2/11/2017 302 – 308 318, 342 and 450 Switch to 342 Hold

EXCL 22/11/2017 3040 - 3090 3290 and 3690 2800 Hold

GGRM 23/10/2017 62000 - 62500 65375, 67850 and 69550

Switch to 69550 Take Profit at Market Price

GJTL 16/11/2017 660 - 670 700, 735 and 820 640 Hold

INDF 22/11/2017 7575 - 7675 8050, 8325, 8525, 8700, 8800 and 9200

7400 Hold

JPFA 20/9/2017 1150 - 1160 1220 and 1470 Switch to 1220 Hold

KAEF 22/11/2017 2430 - 2450 2630, 2770 and 2900 2340 Hold

KBLI 6/11/2017 426 - 432 444 and 484 Switch to 444 Hold

KLBF 11/11/2017 1585 – 1600 1630 and 1730 Switch to 1630 Hold

LPPF 31/10/2017 8600 - 8675 9175, 10000 and 11175

Switch to 11175 Take Profit at Market Price

PPRO 21/11/2017 198 - 202 214, 224, 256 and 266

192 Hold

SRIL 18/9/2017 336- 342 368, 418 and 496 Switch to 368 Hold

TINS 1/11/2017 810 – 820 850, 880 and 980 Switch to 880 Hold

WIKA 22/11/2017 1940 - 1970 2030, 2220, 2370 and2520

1900 Keep Buy on Weakness

WTON 14/11/2017 660 - 675 700, 820, 950 and 8075

640 Hold

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.

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

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