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Daily News 01 December 2022

01 December 2022

*MARKET SUMMARY*

KB VALBURY SEKURITAS 
Thursday, 01 December 2022


HEADLINE NEWS
• TOWR – Records 3.6% growth in net profit for 3Q22
• INDF - 9M22 net profit declined 14.07% yoy
• Banking – NPL forecasted at below 5% in 2023
• WEGE - Aims for 10-15% new contract growth in 2023
• GOTO - Pre-IPO shareholders decides not to go ahead with secondary offering
• RMKE - Budgeting capex of IDR1 tn in 2024-2026
• SICO - Plan to distributes interim dividend of IDR1 per share
• DRMA - Projecting its CAPEX in 2023 of IDR150 bn


VIEW MARKET  
US stocks closed sharply higher as Powel says soften raising policy rates could start in December, while VIX index closed 5.98% lower to 20.58 as Fed Chair boost investor optimism. European benchmark indexes closed in green territory following euro zone inflation data. On commodity market, oil traded higher adopting signal on tighter supply, weaker dollar and China demand recovery expectation. Gold hikes close to 1.5% as Powel clearly stated policy rates hikes will be slower in Dec22.

Asian stocks closed mixed, amidst South Korea revised 3Q GDP data at +0.3%qoq or inline with previous estimate. Market recent focus remain on latest update on China government policy over lockdown as new Covid cases increased. 

Meanwhile from domestic market, JCI closed +0.99% higher to 7,081.3. Investor likely to measure and adopting Bank Indonesia yesterday annual meeting for today sentiment. Indonesia’s central bank expecting domestic macro growth will hover within a range of 4.5%-5.3% (yoy) in 2023 and inflation 3.0% (±1%, yoy) in H1-2023. Market will receive domestic inflation update which expected to reach 5.99%yoy or slightly higher vs 5.71%yoy in previous month and 0.16%mom from -0.11%mom earlier. We might see JCI continue to closed higher today, amidst potential take profit following recent rally.


Technical View
Support Level         7023/6965/6936
Resistance Level     7110/7139/7197
Major Trend         Up
Minor Trend         Down
Pattern :                Up to Down (-)

TRADING IDEAS : 
These recommendations based on technical and only intended for one day trading

*BMRI*: Trading Buy
• *Close 10525, TP 10800*
• Entry price at *10300-10525*
• Resistance level at *10800* & support at *10300*
• Beware if the price exceeding *10300*
• Stoploss level at *9800*

*BBNI*: Trading Buy
• *Close 9900, TP 10075*
• Entry price at *9550-9900*
• Resistance level at *10075* & support at *9550*
• Beware if the price exceeding *9550*
• Stoploss level at *9025*

*TLKM* : Trading Buy
• *Close 4040, TP 4100*
• Entry price at *3990-4040*
• Resistance level at *4100* & support at *3990*
• Beware if the price exceeding *3990*
• Stoploss level at *3880*

*PTBA*:  Trading Buy
• *Close 3800, TP 3850*
• Entry price at *3780-3800*
• Resistance level at *3850* & support at *3780*
• Beware if the price exceeding *3780*
• Stoploss level at *3710*

*PGAS*:  Trading Buy
• *Close 1880, TP 1920*
• Entry price at *1850-1880*
• Resistance level at *1920* & support at *1850*
• Beware if the price exceeding *1850*
• Stoploss level at *1780*

*INTP*:  Trading Buy
• *Close 9950, TP 10100*
• Entry price at *9825-9950*
• Resistance level at *10100* & support at *9825*
• Beware if the price exceeding *9825*
• Stoploss level at *9550*

*TP : Target Price



(Disclaimer ON) 




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