Morning Dew - 17 February 2014

Back to Earnings

ADMF reported a 20.34% jump in net profit as its revenues in 2013 were up 19.42%. BDMN’s net profit was up slightly by 1.02% while its revenues grew 4.71%. Two more companies reported their performance for 2013: WOMF reported a decline of revenues by 1.44% while net profit soared 769.89%. 

Government-owned WSKT reported that its net profit were up by 44.85%. Its EPS however, were up 0.16% as revenues grew 9.97%. 

USDIDR fell further to 12,073 from 12,115 per USD as BI held rates steady at 7.5%.

Sentiment Steady

US University of Michigan Confidence Index stayed  at 81.2 in February, while industrial production fell 0.3% in January after a 0.3% increase in December.  Capacity utilization however, slipped to 78.5% from 78.95.

Next week data coming out of US will be inflation data (PPI and CPI), housing data, and Fed’s minutes of the recent FOMC meeting. Hardly any of them could be the potential market mover.

Technically Speaking...

JCI continued its attempt to clear the resistance zone around 4,480-4,510, but  hardly successful so far. 

The 200-day EMA at 4,420-4,430 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.

Volume was down a bit while MACD continued to push up, maintaining the upside potential at the moment. Near-term, the outlook is biased to the upside.

RALS hit its target price at 1,400 and the reco ended with 10.24% gains.

Week Ahead

Lack of key data next week suggests that the coming week may be mild and considering the Indonesian stocks are still in the earnings season mode, we are probably going to see stocks move individually, depending on which ones reporting better than expected (or worse than expected).

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