DISCLAIMER

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).

Minggu, 23 Juni 2013

Morning Dew - 24 June 2013

Key Points
  • Fed's FOMC meeting ended with Chairman Ben Bernanke reiterated the Fed's stance over the potential unwinding of its current asset purchases - expected by the market sometime this year, possibly September, and the total elimination of the stimulus - according to Bernanke himself - sometime in mid-2014. Bears struck again and the global stocks resumed the journey downhill. Outside US, a crack in the Greek coalition government sparked renewed political concern while China's data also came in as negative. Domestically, the government has finally set the fuel prices to be raised on Saturday.
  • The absence of positive catalysts means the JCI risks more downside in the coming week. Technical picture of JCI shows that key support at 4510 has been tested. Next below 4510 will be 4422 and afterwards 4139. MACD indicator has continued its descend while the 200-day EMA has been breached by a decent margin. The volume also accelerated on Friday. Upside may be limited to 4620-4630 where the 200-day EMA has turned into resistance. More key resistance will be the pivotal 4880.
  • The drop on Friday took out another reco out as MDLN tripped its stop. On the contrary, MPPA managed to reach its target at 3150, gaining 75% in the end. We're now back at ten active recos.
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