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).

Selasa, 16 Juli 2013

Morning Dew - 17 July 2013

Key Points
  • JCI ended slightly higher after failed to breach its resistance at 4679. This signifies that the wave B of the correction remains in progress. We seem to be at the third leg of wave B (wave c), and this means the recent peak at 4679 is key to confirm this assumption. Once cleared, we will set eyes on 4848, our next Fibo target, and subsequently 5124. Crucial support stays at 4373.
  • We have MAPI added into the pool of recos today as it reached its entry point at 6950. We now have six recos filled and another three awaiting to be triggered. BBCA, BBRI and WSKT are currently in the green while IMAS stays neutral and two are in the red (TELE and MAPI).
  • Hawkish comment from Kansas City Fed Chief Esther George sent the stocks down along with poor result coming from Coca-Cola Co. KO's sales volume missed estimates as economic growth slowed. George stated that the US is on the right path for economic recovery and thus cutting the pace of stimulus are appropriate as inflation seem to be moderate, hence the interest rates should not be held too low for too long. Elsewhere, industrial production grew 0.3% in June after being stable in May.
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