Technical Research Monday, 27 th November 2017

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1 Technical Research Monday, 27 th November 2017 JAKARTA COMPOSITE INDEX (JCI): Daily Range: Analyst: M. Nafan Aji Gusta Utama JCI, Daily Commentary: JCI chart rose 0,06% at level during the end of trading session on 24 November Based on the daily pivot from Bloomberg data, first and second support are at level and Meanwhile, first and second resistance are at level and Based on the daily indicator, MACD has established a golden cross formation at the positive area. Meanwhile, Stochastic and RSI are neutral. A bullish pin bar is detected signifying bullish continuation. Therefore, index will eventually ascend towards the resistance between level 6080 and 6092, on the upside. Komentar: IHSG berhasil ditutup menguat 0,06% di level pada 24 November Berdasarkan daily pivot dari Bloomberg, support pertama dan kedua berada pada level dan Sementara itu, resistance pertama dan kedua berada pada level dan Berdasarkan indikator daily, MACD berhasil membentuk pola golden cross di area positif. Sementara itu, Stochastic dan RSI berada di area netral. Terlihat pola bullish pin bar candle yang mengindikasikan adanya potensi bullish continuation pada pergerakan indeks saham. Dengan demikian, IHSG akan berpotensi menuju ke area resistance pada level 6080 dan 6092.

2 PT. Adhi Karya Tbk. (ADHI) 2040 RoE: 4.88%; PER: 26.72x; PBV: 1.29x; Beta: 2.32 Recommendation: BUY ON WEAKNESS ADHI, Daily Commentary: ADHI stock chart rose at level 2040 during the end of trading session on 24 November The price has left the oversold area based on the RSI indicator and a bullish homing pigeon candlestick pattern is detected signifying buying stimulus. On the upside, the price will eventually ascend to the resistance. Buy on Weakness around level area, with target prices at level 2090, 2220, 2350 and Komentar: ADHI ditutup menguat di level 2040 pada 24 November Saat ini, indikator RSI telah meninggalkan area jenuh jual dan terlihat pola bullish homing pigeon candlestick pattern yang mengindikasikan adanya potensi stimulus beli. Buy on Weakness pada area level level , dengan target harga secara bertahap di level 2090, 2220, 2350 dan Support: 1970, 1950 & Resistance: 2090, 2220, 2350 & Sell

3 PT. Alam Sutra Reality Tbk. (ASRI) 384 RoE: 17.30%; PER: 5.08x; PBV: 0.87x; Beta: 2.36 Recommendation: BUY ASRI, Daily Commentary: ASRI stock chart fell at level 384 during the end of trading session on 24 November A target price at level 396 was reached successfully. The price is above the lower band of the bollinger and 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 area, with target prices at level 394, 410 dan 416. Komentar: ASRI ditutup melemah di level 384 pada 24 November 2017 Adapun target harga pada level 396 berhasil tercapai. Saat ini, terlihat pola bullish inverted hammer candle yang mengindikasikan adanya potensi stimulus beli. Selain itu, harga bertahan di atas garis bawah dari bollinger. Akumulasi Beli pada level , dengan target harga secara bertahap di level 394, 410 and 416. Support: 372. Resistance: 394, 410 & 416.

4 PT. Bank Pembangunan Daerah Jawa Timur Tbk. (BJTM) 710 RoE: 17.29%; PER: 7.77x; PBV: 1.35x; Beta: 1.94 Recommendation: BUY BJTM, Daily Commentary: BJTM stock chart fell at level 710 during the end of trading session on 24 November The target prices at level 710 and 720 were reached successfully. The price is above the middle band of the bollinger and a tweezer bottom candlestick pattern is detected signifying buying stimulus. On the upside, the price will eventually ascend to the resistance. Accumulative Buy around level area, with target prices at level 725, 740 and 755. Komentar: BJTM ditutup melemah di level 710 pada 24 November Adapun target harga pada level 710 and 720 berhasil tercapai. Saat ini, terlihat pola tweezer bottom candlestick pattern yang mengindikasikan adanya potensi stimulus beli. Selain itu, harga bertahan di atas garis tengah dari bollinger. Akumulasi Beli pada area level , dengan target harga secara bertahap di level 725, 740 dan 755. Support: 700 & 690. Resistance: 725, 740 & 755. Buy

5 PT. Harum Energy Tbk. (HRUM) 2100 RoE: 11.10%; PER: 9.75; PBV: 1.08x; Beta: 0.61 Recommendation: BUY ON WEAKNESS HRUM, Daily Commentary: HRUM stock chart remained stagnant at level 2100 during the end of trading session on 24 November The price is above the lower band of the bollinger and a bullish harami doji star candlestick pattern is detected signifying buying stimulus. On the upside, the price will eventually ascend to the resistance. Buy on Weakness around level area, with target prices at level 2290, 2400, 2510 and Komentar: HRUM ditutup stagnan di level 2100 pada 24 November Saat ini, harga bertahan di atas garis bawah dari bollinger dan terlihat pola bullish harami doji star candlestick pattern yang mengindikasikan adanya potensi stimulus beli. Buy on Weakness pada level , dengan target harga secara bertahap di level 2290, 2400, 2510 dan Support: 2080 & Resistance: 2290, 2400, 2510 & Sell

6 PT. Vale Indonesia Tbk. (INCO) 2940 RoE: -1.45%; PER: x; PBV: 1.20x; Beta: 0.41 Recommendation: BUY INCO, Daily Commentary: INCO stock chart rose at level 2940 during the end of trading session on 24 November All target prices were reached successfully. The price is above the lower band of the bollinger and a bullish harami doji star candlestick pattern is detected signifying buying stimulus. In addition, the MACD indicator specifies a golden cross formation. On the upside, the price will eventually ascend to the resistance. Accumulative Buy around level area, with target prices at level 3050 and Komentar: INCO ditutup mengaut di level 2940 pada 24 November Adapun seluruh target harga berhasil tercapai. Saat ini, harga bertahan di atas garis bawah dari bollinger dan terlihat pola bullish harami doji star candlestick pattern yang mengindikasikan adanya potensi stimulus beli. Adapun indikator MACD sudah membentuk pola golden cross. Akumulasi Beli pada area level , dengan target harga secara bertahap di level 3050 dan Support: Resistance: 3050 & 3270.

7 PT. Pp Persero Tbk. (PTPP) 2730 RoE: 10.36%; PER: 13.01x; PBV: 1.35x; Beta: 1.6 Recommendation: BUY PTPP, Daily Commentary: PTPP stock chart remained stagnant at level 2730 during the end of trading session on 24 November A target price at level 2810 was reached successfully. The price is above the lower band of the bollinger and a tweezer bottom candlestick pattern is detected signifying buying stimulus. On the upside, the price will eventually ascend to the resistance. Accumulative Buy around level area, with target prices at level level 2810 and Komentar: PTPP ditutup stagnan di level 2730 pada 24 November Adapun target harga pada level 2810 berhasil tercapai. Saat ini, harga bertahan di atas garis bawah dari bollinger dan terlihat pola tweezer bottom candlestick pattern yang mengindikasikan adanya potensi stimulus beli. Akumulasi Beli pada area level , dengan target harga secara bertahap di level 2810 dan Support: 2690 & Resistance: 2810 & 3110.

8 STOCK RECOMMENDATION UPDATES Stock Date Buy Area Target Profit Protection Status for Today AALI 23/11/ , 14975, 15325, Hold and AGRO 3/11/ , 615 and 655 Switch to 540 Hold AKRA 21/11/ , 7575, 7950 and 6375 Hold 8550 ASII 22/11/ , 8525 and 8650 Switch to 8525 Hold BBCA 14/11/ Hold BEST 23/11/ , 302 and Hold BJBR 16/11/ , 2570 and 2750 Switch to 2480 Hold BMRI 15/11/ and 7425 Switch to 7425 Take Profit at Market Price BMTR 20/11/ , 620 and Hold DOID 24/11/ , 910, 945 and Keep Buy on Weakness DSFI 23/11/ , 134 and Hold ELSA 2/11/ , 342 and 450 Switch to 342 Hold EXCL 22/11/ and Hold GJTL 16/11/ , 735 and 820 Switch to 735 Hold INDF 22/11/ , 8325, 8525, 7400 Hold 8700, 8800 and 9200 INTP 24/11/ & Keep Buy on Weakness JPFA 20/9/ and 1470 Switch to 1220 Hold KAEF 22/11/ , 2770 and Hold KBLI 6/11/ and 484 Switch to 444 Hold KLBF 11/11/ and 1730 Switch to 1630 Hold LPPF 31/10/ , and Switch to Take Profit at Market Price PPRO 21/11/ , 224, 256 and 192 Hold 266 SMGR 24/11/ , and 9750 Hold SRIL 18/9/ , 418 and 496 Switch to 368 Hold SSMS 23/11/ , 1630 and Hold

9 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) 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 may have positions in or may from time to time buy or sell the securities mentioned in this report or other related securities.