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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, 08 Februari 2014

Morning Dew - 10 February 2014

Weather Factor

JCI added more gains on Friday as the index tracked the US stocks rise on Thursday. Investors were anticipating the release of US nonfarm payrolls during the US trading hours which came out less than expected.

While the market consensus was at 180k, the payrolls number came in at 113k, better than December’s 75k but came short of expectation. Still, the poor reading was said to have been caused by the poor weather during the period and that the Federal Reserve is expected to be unaffected by the result. Unemployment rate however, improved from 6.7% to 6.6%.

Elsewhere, USDIDR bounced to IDR12,176 per US$ from IDR12,159 per US$. 

Awaiting IPO

Several companies are currently await to be listed on the IDX.

Intermedia Capital, a part of Bakrie Group’s VIVA; Graha Layar Prima (Blitzmegaplex); Wika Beton (worked on by Bahana, Mandiri, Danareksa, and Sucorinvest); Bali Towerindo Sentra(appointed RHB OSK); Link Net  and Bumi Raya Investindo (part of AISA) are the names aiming for listings in the short-term.

Technically Speaking...

JCI popped above the EMA-band to end Friday’s session at 4,466, up 0.9%.
Prior high at 4,432-4,428 will be the interim support area for now, followed by recent lows at 4,320 and 4,286. Next big support comes at 4,161, followed by 4,109 and 3,837.

Nearest resistance is seen at around 4,480-4,510. Once 4,510 is cleared, 4,592-4,610 will be the next hurdle to crack.

MACD is rising and volume has steadily on the rise as well. With the index now back above the EMA band, the near-term outlook is positive. Monday is expected to be another up day for JCI.

Week Ahead

So far, the improving jobless claims is seen as positive for JCI on Friday. The data somehow triggered a broad-based rally both among European and American stocks. Asian stocks may be on track for similar gains, including JCI.

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