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).

Rabu, 05 Maret 2014

Morning Dew - 6 March 2014

Speed Bumps

JCI continued to rally as it ended the day up by 1.26% at 4,659 on the back of cooling situation in Ukraine. As the Dow cooled down as well overnight, the JCI is also seen hitting speed bumps on the coming session.

From the Fed, during her swearing-in event in Washington, the new Fed boss Janet Yellen said that the central bank has more to do to reach its inflation and unemployment goals as well as to repair damage from the financial crisis. The Fed will have its regular monetary policy meeting on March 18 and 19 and the central bank is expected to keep chipping away its stimulus by another US$10bn.

US ADP report showed that private sector has added 139k new jobs in February, short of 155k expected but better than the downwardly revised January figure which stood at 127k. In the service sector, US ISM index fell to 51.6 in February from 54 in prior month.

TOWR and ANTM

Net profit halved at TOWR during 2013 despite its revenues jumped 41.14% to IDR3,197,139 million. Both assets and liabilities also grew by 14.29% and 16.89%, respectively.

State-owned ANTM revenues rose slightly by 8.12% to IDR11,298,322 million, leading to sharp decline in net profit which dropped 86.3% to IDR409,944 million. Liabilities growth outpaced assets growth by 3 to 1. Assets grew 10.94% while liabilities were up by 31.93%.

Technically Speaking...

JCI soared 1.26% to end at 4,659.17, following its initial bounce on Tuesday and closing in towards its resistance level at 4,665.

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 4,510 as this was the prior resistance-turned-support.

Nearest resistance is seen at around 4,665, Friday’s high. Meanwhile, 4,791 will be the next hurdle to crack should 4,650 gives way.

MACD has returned to above the zero line now, while RSI has curled back up heading towards the overbought area. Meanwhile, volume ticked up. Sharp rally is expected to put some speed bump on JCI this Thursday but the upside potential remains intact.

Day Ahead

Cooling down in Ukraine is expected to stay for now. As tension recedes, stocks will be benefited. Sharp rise on Wednesday however, could spark some profit-taking in Thursday’s session as seen in Europe and US. The Dow fell 0.22% on Wednesday while the German DAX and UK FTSE fell 0.49% and 0.71%, respectively.

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