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, 18 Desember 2013

Morning Dew - 19 December 2013

And the Tapering Starts...

US Federal Reserve has officially started its tapering campaign. From the FOMC meeting it has been decided that the bond purchases would be reduced by $10 billion, from $85bn to $75bn.
The amount is considered small and somehow satisfies the market.

Upbeat view from the Fed on the job market has also set off positive mood.

In addition, budget proposal approved by the US Senate and sent to President Obama is potentially reducing the US deficit for the next 10 years through $63bn of automatic spending cuts.

SIDO Debuted

SIDO debuted on Wednesday, off on a fine start. The stock gained 20.69% on the first day, and settled at 700 per share.

Elsewhere, PT Capitol Nusantara Indonesia (CANI) set out its IPO price range at 190-230 as it seeks to finance a purchase of an AHTS fleet to support the company’s operations.

Technically Speaking...

JCI is expected to rebound on Thursday as positive mood sets in.

The nearest resistance is spotted at 4,282, followed by 4,331. On the flip side, the support is seen at 4,109 with interim support at 4,172.

MACD is struggling to regain footing above the zero line, while the RSI is also heading towards the neutral zone. So far, the bullish divergence structure remains intact and this is in line with the fundamental outlook.

Moreover, despite the tiny progress since the low at 4,109 was established, the volume has picked up nicely, supporting the near-term bullish outlook.
PTPP has been added to the reco list, replacing ALTO which got stopped out earlier.

Day Ahead

Strong finish on Fed decision is expected to set off a positive mood in Indonesian stocks as well. We expect a rebound, but we should keep in mind that JCI is increasingly dependent on the BI’s policy rather than the Fed. BI itself has set its own policy path which may or may not in convergence with the Fed’s.

Tidak ada komentar:

Posting Komentar