BOJ Stimulus
JCI seesaw between gains and losses before finishing the Tuesday’s session with tiny gains of 0.02%. IDX30 and LQ45 indexes ended lower, however.
Following up CAD’s data which improved significantly, BI is now expected to be less unlikely to raise rate. Election is closing in, and it could be a game changer for JCI this year.
In Japan, Bank of Japan’s move to extend its special loan programs to help stimulate the economy led an over 3% gains in Nikkei225 index.
USDIDR bounced off low from 11,716 to 11,826 per USD.
BTPN & BNGA
BTPN booked a 7.69% increase in net profit in 2013 with its net interest income grew 16.10% during the period. Assets and liabilities were up 17.9% and 16.36%, respectively.
Meanwhile, BNGA reported a slight increase in net profit of 1.09% as its net interest income only grew 4.24% in 2013. Assets and liabilities increased 10.87% and 10.43%, respectively.
Technically Speaking...
JCI struggled to hold onto its recent gains and managed to gained slightly by the end of Tuesday’s session.
Recent peak-turned-support at 4,510 will be nearest support line for JCI, whereas the 200-day EMA at 4,440 will be the subsequent support area.
Nearest resistance is seen at around 4,610 while 4,791 will be the next hurdle to crack.
Volume was up while MACD continued to push up, maintaining the upside potential at the moment. Near-term, the outlook is biased to the upside although exhaustion is spotted.
CSAP is filled and the position is now open.
Day Ahead
Bank of Japan’s move managed to buoy the regionals as the JCI dodged the red. With lack of fresh catalysts, the JCI is expected to run into a doldrums this Wednesday. Still, recent CAD improvement will keep the upside bias intact. As usual, the earnings flow will put individual stocks into focus as well. The Dow’s decline may limit the upside.
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