- Profit-taking set in at the start of the week as the JCI tumbled 1% to end at 5054.63. Foreign transactions netted a sell of Rp491.47b as 202 stock ended in the red. Just 90 managed to stay positive while the other 97 stocks ended flat. Previously, JCI managed to reach its Fibo projection target at 5114 last week, and Monday's fall has met the 38.2% retracement level. Next support comes in 5012, followed by 4987 and 4957. Resistance lies at 5115, the prior peak, followed by 5242 upon successful breakout.
- U.S. stocks took a pause on Monday even after a better-than-expected retail sales figure. April saw a slim increase of 0.1% in retail sales after 0.5% drop in March, beating the consensus of a 0.3% slip forecast earlier.
- Earlier in Asia, China released a string of economic data which showed fixed asset investment slowed a bit from 20.9% to 20.6% in April, while industrial production accelerated from 8.9% to 9.3% in April. Retail sales however, were up 12.8%, faster than the prior 12.6% increase in March.
- AKRA is added to the reco list. Entry point around 5250-5350, stop below 4850 while the objectives are 5550, 5650, and 5950.
Senin, 13 Mei 2013
Morning Dew - 14 May 2013
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