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).

Rabu, 17 Juli 2013

Morning Dew - 18 July 2013

Key Points
  • JCI took a late surge to arrive at 4679 near the closing bell. This signifies that the wave B of the correction is likely to extend to the next Fibo target at 4848. We seem to be at the third leg of wave B (wave c), once we clear 4679, we will set eyes on 4848, our next Fibo target, and subsequently 5124. Crucial support stays at 4373.
  • One reco has been cancelled as AISA has already arrived at its price target at 1430. So, we now have two pending for entry (ASRI and ROTI), one at par with the entry price (IMAS), one losing position (TELE) and four in the green (BBCA, BBRI, WSKT and MAPI).
  • In his testimony before the House Panel, the Fed chairman Ben Bernanke said that the Fed has no preset timing on exiting the QE. This indicates that the FOMC will keep on watching the economic data flow before deciding to reduce its stimulus program. Several key indicators mentioned were employment outlook and inflation. These two are key factors for the Fed at the moment.
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