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, 23 Oktober 2013

Morning Dew - October 24th 2013

Key Points


Doldrums
  • JCI bounced back after it got under fire a day earlier. The bounce could be a part of a large consolidation currently happening as the market is waiting for the next big things such as the FOMC decision, and more rounds of of economic data.
  • Next incoming data are from the housing market and the job market. US New Home Sales were expected to gain 1% in September from prior month, compared to MoM jump of 7.9% recorded in August. US jobless claims data is also set for release on Thursday.
  • Beyond Thursday, Friday will feature durable goods orders, as well the U. of Michigan confidence index.
UNVR Not Going Private
  • UNVR soared to reach as high as 37,350 on Wednesday after a rumor about the company planning to go private hit the market.
  • The company clarified the matter as it stated that it is its subsidiary company, Unilever Body Care which was previously listed (PROD) which is going to go private.
  • At the end of the day, UNVR settled at 31,700, trimmed its gains to just 2.92%.

Technically Speaking...
  • JCI made another push above its EMA resistance and managed to hit 4,609  only to get pushed back to end at 4,546. The candle pattern shows exhaustion and it risks for another attempt to go down. 
  • Prior high at 4,609 will act as near-term resistance, followed by 4,791 and 4,900 while the nearest support will be at the upper end of the EMA band at 4,530.
  • Indicators show no new hints at the moment. 
  • No changes in the pool of recommendations for now. All are on hold.

Day Ahead

As the market is running out of major catalysts, the sessions ahead will be more likely going sideways. US earnings season continues to be around along with speculation over the start of Fed’s tapering.



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