Technical ResearchFriday, 24th April 2020

JAKARTA COMPOSITE INDEX (JCI): 4593.55 (+0.57%)

Value: RG 3.7 T (NG 1.3T); Foreign Net Sell 243.597 B

Minimum Daily Range (est): 4443.63 – 4747.88

Commentary: JCI chart rose 0.57% at level 4593.55 during the end of trading session on 23 April 2020. Based onthe 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 4747.88 and 4975.54. Based on the indicator, MACD hadestablished a golden cross formation at the negative area. Meanwhile, Stochastic and RSI are neutral. In addition,an upward bar is detected signifying the bulls are in control. On the upside, JCI shall retrace back to the nearestresistance.

Komentar: IHSG berhasil ditutup menguat 0.57% di level 4593.55 pada 23 April 2020. Berdasarkan rasio fibonacci,support pertama maupun kedua memiliki range pada level 4443.63 hingga 4318.10. Sementara itu, resistancepertama maupun kedua memiliki range pada 4747.88 hingga 4975.54. Berdasarkan indikator, MACD masih dalamstatus pola golden cross di area negatif. Sementara itu, Stochastic dan RSI berada di area netral. Di sisi lain, terlihatpola upward bar yang mengindikasikan adanya penguatan lanjutan pada pergerakan IHSG sehingga berpeluangmenuju ke level resistance terdekat.

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

JCI, Daily

Daily Signal

“Forecast”:

*Analisa di atas dapat berubah dan akan dianalisa kembali (update) jika terjadi perubahan mendasar dari faktor teknis analisis.

*The analysis above may change and will be updated whenever there is a fundamental change from the technical analysis factor.

PT. Adaro Energy Tbk. (ADRO) 905

Recommendation: BUY

ADRO, Daily

Commentary: ADRO stock chart rose at level 905 during the end of trading session on 23 April 2020. The target pricesat level 815, 900 and 960 were reached successfully. The price is above the lower band of the bollinger and a bullish harami candlestick pattern is detected signifying buying stimulus. “Accumulative Buy” around level 900 – 910 area,with target prices at level 960 and 1210.

Komentar: ADRO ditutup menguat di level 905 pada 23 April 2020. Adapun target harga pada level 815, 900 dan 960berhasil tercapai dengan baik. Pergerakan harga saham berada di atas garis bawah dari bollinger dan terlihat polabullish harami candlestick pattern yang mengindikasikan adanya potensi stimulus beli pada pergerakan harga saham.“Akumulasi Beli” pada level 900 – 910, dengan target harga secara bertahap di level 960 dan 1210.

Indicator: Status:

MACD (12;26;9) Neutral

RSI (14) Neutral

RoE: 10.15%; PER: 5.15x; EPS: 175.58; PBV: 0.52x; Beta: 1.61

*Analisa di atas dapat berubah dan akan dianalisa kembali (update) jika terjadi perubahan mendasar dari faktor teknis analisis.

*The analysis above may change and will be updated whenever there is a fundamental change from the technical analysis factor.

Support: 900 & 815.

Short term target price(s) (1 day - 3 weeks): 960.

Mid term target price(s) (3 weeks - 3 months): 1210.

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

PT. Astra International Tbk. (ASII) 3760

Recommendation: BUY

ASII, Daily

Commentary: ASII stock chart rose at level 3760 during the end of trading session on 23 April 2020. The price is above the lower band of the bollinger and a morning star candlestick pattern is detected signifying buying stimulus.“Accumulative Buy” around level 3650 – 3760 area, with target prices at level 4000, 4450, 4760 and 6100.

Komentar: ASII ditutup menguat di level 3760 pada 23 April 2020. Pergerakan harga saham berada di atas garis bawah dari bollinger dan terlihat pola morning star candlestick pattern yang mengindikasikan adanya potensi stimulus beli pada pergerakan harga saham. “Akumulasi Beli” pada area level 3650 – 3760, dengan target harga secara bertahap di level 4000, 4450, 4760 dan 6100.

Indicator: Status:

MACD (12;26;9) Buy

RSI (14) Neutral

RoE: 11.62%; PER: 7.02x; EPS: 535.98; PBV: 0.82x; Beta: 1.51

Support: 3420.

Short term target price(s) (1 day - 3 weeks): 4000.

Mid term target price(s) (3 weeks - 3 months): 4450 & 4760.

Long term target price(s) (3 months - 1 year): 6100.

*Analisa di atas dapat berubah dan akan dianalisa kembali (update) jika terjadi perubahan mendasar dari faktor teknis analisis.

*The analysis above may change and will be updated whenever there is a fundamental change from the technical analysis factor.

PT. Bank Negara Indonesia Tbk. (BBNI) 4020

Recommendation: BUY

BBNI, Daily

Commentary: BBNI stock chart remained stagnant at level 4020 during the end of trading session on 23 April 2020. A target price at level 4240 was reached successfully. Since the price has retested the MA 20, it will eventually ascend to the nearest resistance at first, on the upside. “Accumulative Buy” around level 3900 – 4020 area, with target prices at level 4240, 4620 and 5000.

Komentar: BBNI ditutup stagnan di level 4020 pada 23 April 2020. Adapun target harga pada level 4240 telah berhasiltercapai dengan baik. Pergerakan harga saham telah menguji garis MA 20 sehingga peluang terjadinya penguatan minimal menuju ke level resistance pertama masih terbuka lebar. “Akumulasi Beli” pada area 3900 – 4020, dengan target harga di level 4240, 4620 dan 5000.

Indicator: Status:

MACD (12;26;9) Buy

RSI (14) Buy

RoE: 12.31%; PER: 4.80; EPS: 831.59; PBV: 0.59; Beta: 2.05

Support: 3850 & 3470.

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

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

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

*Analisa di atas dapat berubah dan akan dianalisa kembali (update) jika terjadi perubahan mendasar dari faktor teknis analisis.

*The analysis above may change and will be updated whenever there is a fundamental change from the technical analysis factor.

PT. H.M. Sampoerna Tbk. (HMSP) 1560

Recommendation: BUY

HMSP, Daily

Commentary: HMSP stock chart fell at level 1560 during the end of trading session on 23 April 2020. A target price at level 1620 was reached successfully. Since the price has retested the MA 20, it will eventually ascend to the nearestresistance at first, on the upside. “Accumulative Buy” around level 1530 – 1560 area, with target prices at level 1660, 1820, 2190 and 2550.

Komentar: HMSP ditutup melemah di level 1560 pada 23 April 2020. Adapun target harga pada level 1620 telah berhasil tercapai dengan baik. Pergerakan harga saham telah menguji garis MA 20 sehingga peluang terjadinya penguatan minimal menuju ke level resistance pertama masih terbuka lebar. “Akumulasi Beli” pada area 1530 – 1560, dengan target harga di level level 1660, 1820, 2190 dan 2550.

RoE: 38.46%; PER: 13.35; EPS: 117.98; PBV: 5.13x; Beta: 1.11

Indicator: Status:

MACD (12;26;9) Buy

RSI (14) Neutral

Support: 1430.

Short term target price(s) (1 day - 3 weeks): 1660.

Mid term target price(s) (3 weeks - 3 months): 1820 & 2190.

Long term target price(s) (3 months - 1 year): 2550.

*Analisa di atas dapat berubah dan akan dianalisa kembali (update) jika terjadi perubahan mendasar dari faktor teknis analisis.

*The analysis above may change and will be updated whenever there is a fundamental change from the technical analysis factor.

PT. PP London Sumatra Indonesia Tbk. (LSIP) 635

Recommendation: BUY

LSIP, Daily

Commentary: LSIP stock chart fell at level 635 during the end of trading session on 23 April 2020. A bullish doji star candle is detected signifying buying stimulus. “Accumulative Buy” around level 615 – 645 area, with target prices at level 695, 755 and 1000.

Komentar: LSIP ditutup melemah di level 635 pada 23 April 2020. Terlihat pola bullish doji star candle yang mengindikasikan adanya potensi stimulus beli pada pergerakan harga saham. “Akumulasi Beli” pada area 615 – 645, dengan target harga secara bertahap di 695, 755 dan 1000.

Indicator: Status:

MACD (12;26;9) Neutral

RSI (14) Neutral

RoE: 2.99%; PER: 17.01x; EPS: 37.34; PBV: 0.51x; Beta: 0.92

*Analisa di atas dapat berubah dan akan dianalisa kembali (update) jika terjadi perubahan mendasar dari faktor teknis analisis.

*The analysis above may change and will be updated whenever there is a fundamental change from the technical analysis factor.

Support: 615 & 510.

Short term target price(s) (1 day - 3 weeks): 695.

Mid term target price(s) (3 weeks - 3 months): 755.

Long term target price(s) (3 months - 1 year): 1000.

PT. United Tractors Tbk. (UNTR) 16200

Recommendation: BUY

UNTR, Daily

Commentary: UNTR stock chart fell at level 16200 during the end of trading session on 23 April 2020. The target pricesat level 16300, 17025 and 17525 were reached successfully. The price is above the lower band of the bollinger and atweezer bottom candlestick pattern is detected signifying buying stimulus. “Accumulative Buy” around level 16000 –16200 area, with target prices at level 17375, 18850, 22275 and 25700.

Komentar: UNTR ditutup melemah di level 16200 pada 23 April 2020. Adapun target harga pada level 16300, 17025 dan 17525 berhasil tercapai dengan baik. Pergerakan harga saham berada di atas garis bawah dari bollinger dan terlihat pola tweezer bottom candlestick pattern yang mengindikasikan adanya potensi stimulus beli pada pergerakan harga saham. “Akumulasi Beli” pada area 16000 – 16200, dengan target harga secara bertahap di 17375, 18850, 22275 dan 25700.

Indicator: Status:

MACD (12;26;9) Neutral

RSI (14) Neutral

RoE: 18.51%; PER: 5.30x; EPS: 3057.32; PBV: 0.99x; Beta: 0.66

Support: 15425 & 14625.

Short term target price(s) (1 day - 3 weeks): 17375 & 18850.

Mid term target price(s) (3 weeks - 3 months): 22275.

Long term target price(s) (3 months - 1 year): 25700.

*Analisa di atas dapat berubah dan akan dianalisa kembali (update) jika terjadi perubahan mendasar dari faktor teknis analisis.

*The analysis above may change and will be updated whenever there is a fundamental change from the technical analysis factor.

STOCK RECOMMENDATION UPDATES

Stock Date Buy Area Target Profit Protection Status

AALI 31/3/2020 4980 – 5150 5625, 6600, 7350, 7900 and 10150

Switch to 6600 Hold

ACES 22/4/2020 1230 – 1280 1295, 1345 and 1535 Switch to 1345 Hold

ADHI 23/4/2020 560 - 590 640, 725 and 1100 515 Hold

ANTM 20/4/2020 500 – 520 560, 615, 660 and 830

404 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 22/4/2020 206 – 218 232, 252, 266 and 326

178 Hold

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

Switch to 540 Hold

BMRI 20/4/2020 4220 – 4380 4500, 4880, 5175, 5400 and 6275

Switch to 4500 Hold

BNGA 31/3/2020 575 – 605 620, 645, 665, 680 and 735

Switch to 735 Take Profit at Market Price

CPIN 20/4/2020 4140 – 4240 4320, 4580, 4770, 4910 and 5500

Switch to 4320 Hold

CTRA 23/4/2020 515 – 535 585, 640 and 870 405 HoldELSA 22/4/2020 180 – 184 191, 212, 228 and

290Switch to 191 Hold

ERAA 8/4/2020 960 – 1210 1260, 1320, 1360 and 1535

Switch to 1260 Hold

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

Switch to 2560 Hold

GGRM 4/3/2020 50000 - 50800 51500, 52950, 54100, 59050, 64000 and

68925

Switch to 52950 Hold

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

Switch to 212 Hold

HOKI 22/4/2020 685 – 695 720, 750, 770 and 850

645 Hold

STOCK RECOMMENDATION UPDATES

Stock Date Buy Area Target Profit Protection Status

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 and970

390 Hold

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

Switch to 2580 Hold

INDF 20/4/2020 6000 – 6250 6400, 6675, 6750 and 7275

Switch to 6400 Hold

INDY 2/4/2020 655 – 725 740, 905, 1030, 1120 and 1500

Switch to 740 Hold

INTP 22/4/2020 10400 – 10800 11725, 12925, 13850, 14525 and 17300

Switch to 11725 Hold

ISAT 1/4/2020 1465 - 1555 1645, 1710, 1760 and 1955

Switch to 1955 Take Profit at Market Price

ITMG 20/4/2020 7500 – 7700 7850, 8275 and 10050

6475 Hold

JPFA 21/4/2020 900 – 920 970, 1065, 1140, 1190 and 1415

Switch to 970 Hold

JSMR 15/4/2020 2980 – 3120 3280 and 4260 2710 Hold

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

Switch to 1175 Take Profit at Market Price

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

122 Hold

LPPF 23/4/2020 1300 – 1340 1380, 1430, 1505, 1685 and 1865

1230 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

Switch to 2030 Hold

PNLF 15/1/2020 276 - 280 284, 306, 330 and352

Switch to 284 Hold

PTBA 2/3/2020 2190 – 2250 2440, 2770, 3100 and3430

Switch to 2440 Hold

PWON 8/4/2020 392 – 404 460, 492, 515 and 615

340 Hold

STOCK RECOMMENDATION UPDATES

Stock Date Buy Area Target Profit Protection Status

SCMA 20/3/2020 620 – 640 740, 825, 885 and1130

Switch to 885 Hold

SMGR 16/4/2020 6950 – 7150 7650, 8275, 8775, 9125 and 10575

6550 Hold

SMRA 20/3/2020 490 – 494 610, 680, 730 and 935

362 Hold

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 and900

368 Hold

TLKM 19/3/2020 2740 – 2810 2910, 3010, 3070 and3340

Switch to 3340 Take Profit at Market Price

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

Switch to 775 Take Profit at Market Price

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

Switch to 7200 Hold

WEGE 17/3/2020 160 - 166 190, 204, 214 and 256

130 Hold

WIKA 24/3/2020 750 - 775 955, 1100, 1205 and1635

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

WTON 21/4/2020 230 – 240 244, 258, 268, 276 and 308

220 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.

•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 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.