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This research report is prepared by PT MINNA PADI INVESTAMA Tbk for information purposes only and are not to be used or considered as an offer or the solicitation of an offer to sell or to buy or subscribe for securities or other financial instruments. The report has been prepared without regard to individual financial circumstance, need or objective of person to receive it. The securities discussed in this report may not be suitable for all investors. The appropriateness of any particular investment or strategy whether opined on or referred to in this report or otherwise will depend on an investor’s individual circumstance and objective and should be independently evaluated and confirmed by such investor, and, if appropriate, with his professional advisers independently before adoption or implementation (either as is or varied).

Selasa, 21 Mei 2013

Morning Dew - 22 May 2013

Key Points
  • JCI advanced slightly higher to hit 5251.30 before it dipped to retrace 50% at 5163 and eventually settled at 5188.76. Next line of resistance lies at 5284, followed by 5300 and 5367 while the downside support will be once more provided by 5163, and afterwards by 5142 and 5116.
  • U.S. stocks resumed its rise as St. Louis Fed President James Bullard hinted that the Fed should continue its bond purchases to support the U.S. economy. Bullard is one of the FOMC members with a voting right this year. Elsewhere, the Fed Chairman Ben Bernanke will deliver his testimony tomorrow before the Congress, while William C. Dudley who leads the Fed Bank of NY stated on Tuesday that he has not decided whether the Fed should increase or decrease its bond purchases program.
  • After a dip on Tuesday, JCI is seen rebounding on Wednesday with another positive round by the Dow overnight. Bullard's statement eased some doubts over the continuity of Fed's bond purchasing program, but the market will await Wednesday's Bernanke testimony before the Congress although nothing new is expected from him.
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