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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).

Selasa, 25 Februari 2014

Morning Dew - 26 February 2014

Deeper Retreat

Post-breakout of key resistance on Friday, JCI fell again to end the day at 4,577. For now, this is viewed  as a natural setback for the index. 

Some positive catalysts recently released were the improving CAD (hence lessened the odds that BI will raise rate again), the improving IDR, Bank of Japan’s continued stimulus, and Fed’s Janet Yellen’s statement that the tapering policy will continue on.

USDIDR fell to 11,620 from 11,728 on Tuesday.

ASGR & MFMI, US Consumer Confidence

ASGR reported its net profit jumped 22.09% in 2013 from 2012. Its assets and liabilities grew 17.02% and 17.74%, respectively. Revenues were up by 9.55%.

MFMI reported less stellar results as its assets only grew 5.64% while its liabilities have been trimmed by 12.13%. Revenues were up by 7.38%, net profit advanced 9.38%.

US consumer confidence slipped from 79.4 in January to 78.1 in February. The figure missed the consensus which forecast an uptick to 80.0.

Technically Speaking...

JCI continued its fall on Tuesday as it hit the low of 4,567 before ending the day at 4,577.

Recent peak-turned-support at 4,477 will be the nearest key support line for JCI, whereas the 200-day EMA at 4,440 will be the subsequent support area. Nearer support will be at 4,550 as this was the congestion area before the index rallied.

Nearest resistance is seen at around 4,650, Friday’s high. Meanwhile, 4,791 will be the next hurdle to crack should 4,650 gives way.

Volume and MACD continued to tick down, capping the upside potential at the moment. For now, the outlook is biased to the downside as recent gains spells a near-term correction.

Day Ahead

JCI is expected to rebound after some sharp falls. Lack of new catalysts is likely to send stocks searching for directions from earnings report still in progress at the moment. Mixed Recently released US data are seen neutral for now. Weakness in US stocks overnight may cap the JCI.

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