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, 21 Januari 2014

Morning Dew - 22 January 2014

Investments Broke Record

Stocks posted another gains as the JCI rose 0.47% to finish at 4,452.50.

Other than BKPM’s Direct Investments report, no particularly significant news nor economic data released on Tuesday. US data also stays soft until Thursday when the jobless claims report are to be released along with some housing data.

Property (+2.30%) and mining (+1.02%) sectors were the top gainers, while miscellaneous industries stayed weak as it fell lagged for another 0.75%. 

IDR ended slightly weaker at 12,122 per US$.

Record Direct Investments in 2013

Indonesia Investment Coordinating Board (BKPM) revealed that DI in Indonesia jumped 27% to IDR398.6T in 2013, beating the target of IDR390T. Domestic DI grew 39% (IDR128.2T) while the Foreign DI grew 22% (IDR272.6T)

For 2014, BKPM projected a 15% growth of DI (IDR456T), slower than prior periods but considered normal after a string of strong growth.

Technically Speaking...

JCI resumed its rise to end at 4,452 after reaching the intraday high at 4,457, just below the recent high of 4,459 where it bumped into the 200-day EMA. 
Both RSI and stochastics indicators remained around the overbought area, whilst MACD held its position above the zero line. 

Next resistance area lies around 4,600-4,610. Fibonacci projection targets 4,700, however. On the downside, support lies at 4,400 and subsequently, 4,327 - a prior resistance now turned into support. Below 4,327 we also have support at 4,175 and 4,109.

Day Ahead

The upside potential remains intact for now. The index is expected to knock on the 4,600-4,610 resistance area where its bullish commitment will be tested. Should it pass, 4,700 awaits. Below 4,400 may drive the index approaching the lower 4,300 support area.

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