Sabtu, 18 Mei 2013

Morning Dew - 20 May 2013

Key Points
  • Another week another new heights for JCI. The index soared to hit 5162 on Friday before settling at 5145. Hence, the index achieved its resistance at 5158, setting a path towards the next resistance at 5238-5242. On the support side, the index is expected to be well supported by 5030 at the moment, with nearest support at 5115 and a more critical support at 4907. Negative catalysts remain the fuel price hike planned by the government and the related credit rating outlook by S&P and Moody's. For now, the outlook remains positive for the coming week.
  • Better-than-expected consumer confidence and leading indicators released on Friday had put another strength on the Dow's rally. For a whole week, the Dow already gained 1.56% while the S&P 500 gained 2% while the NASDAQ composite added 1.8%. European indexes also gained around 1.4% last week as global stocks buoyed by prolonged accomodative monetary policies by central banks.
  • BSDE has been added to the reco list. Entry area between 1800-1850, with stop set below 1650. Targets include 1920, 2000, and 2300. For longer-term it targets 2700.
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