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).

Sabtu, 14 September 2013

Morning Dew - 16 September 2013

Key Points
  • JCI finished higher for the week as negative impacts from domestic catalysts waned - but not gone - for now. The market focus has increasingly shifted towards the upcoming FOMC meeting which is expected to be the first move by the Federal Reserve to chip away its monetary stimulus off the market. At the moment, the market consensus is on the $10 bn reduction of stimulus and should the Fed delivers more than this, the market will view that the Fed is aggressive in eliminating the entire stimulus, hence the market could tumble again. On the contrary, should the Fed delivers less than the consensus, the market will perceive that the accommodative period of monetary policy is going to stay longer than initially thought and this could be a more friendly catalyst for stocks as the Fed is perceived as not in a hurry to remove its stimulus. We believe that the Fed will deliver exactly $10bn as expected and is likely to drop a hint that there will be more in the coming FOMC meetings until the entire stimulus has been removed.
  • As expected, the resistance at 4373 proved to be resilient and the index is seen to attempt another go to crack this resistance. Should the resistance fails to hold, the next crucial one will be at 4563. This is the end of wave 1 of a lesser degree and should this give way as well, it could be concluded that the downside is secure and that the market will take the JCI back above its 100 and 200 day moving average (currently around 4545). On the downside, the support for JCI will be at 4206. Below this support will bring a retest of level 4k again.
  • After we completed the JPFA trade on Thursday, we got PTPP trade completed as well on Friday. This leaves the active recos to three: ARNA, MDLN and PGAS. In addition, we have started a new reco: LCGP. LCGP has been resilient during the recent market slump. We have its key support at 230, so below this should signal exit. On the resistance side, we have 265, 275, 285, and 295. Entry price is suggested at 245-250, with target at 285.
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Diposting oleh di 09.20
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