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, 29 Oktober 2013

Morning Dew - October 30th 2013

Key Points


Doldrums
  • Market continues to move back and forth between gains and losses as fresh catalysts remain absent. At the moment the gains and losses hinge on the Fed speculation over tapering and the impacts from releases of several not-so-significant-data.
  • Domestically, earnings season will be stealing the market attention in the absence of key global issues and data.
  • APII jumped on its debut at the IDX on Tuesday. The distributor of valves and other industrial items is a subsidiary of Unimech Group, a Malaysian company, is the 26th addition to the listed company at the IDX this year. 
Sales and Confidence Slipped
  • US retail sales fell 0.1% in October, while US consumers were less confident in October due to budget dispute.
  • Consumer confidence fell from 80.2 to 71.2 in October, way below the consensus  of 75.0.

Technically Speaking...
  • JCI remained subdued as there has been lack of significant catalysts around. The index however, resilient above its daily and weekly EMA bands.
  • Recent high at 4,611 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 4,550, followed by recent low at 4,499. 
  • Daily indicators hinted at exhaustion as volume slipped along with declining MACD and RSI. On the weekly basis however, the volume has started to tick up, while MACD’s ascend accelerated. Overall, the outlook for the coming week is cautiously positive.
  • No changes in the pool of recommendations for now. All are on hold.

Day Ahead

ADP employment data and Consumer Price Index are to feature in Wednesday’s economic data slated for release. Private sector hiring is seen declining in October to 148k from 166k a month earlier. Meanwhile, CPI are expected to have grown 0.2% in September, but as the inflation stays subdued, the data is likely to be a non-event. The Fed is also going to conclude its policy meeting but no change is expected. 


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