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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).

Kamis, 06 Maret 2014

Morning Dew - 7 March 2014

Eyes on Payrolls

The rally continued on Thursday, sending the JCI to as high as 4,688. The index has managed to break through its resistance, opening another door towards 4,791.
US jobless claims fell to 323k in the recent week, lower than the expected 336k and also falling behind the prior week’s reading of 349k. Elsewhere, US factory orders fell 0.7% in January, following a 2% decline in December. The fall was worse than 0.5% decline forecast by analysts.
US nonfarm payrolls is expected to increase to 150k in February, better than the January’s increase of 113k. The key US data is due on Friday and is one of the key indicators monitored by the Federal Reserve. Another element of job report is the unemployment rate which is expected to stay at 6.6%.

MERK and TLKM

MERK saw a 62.74% increase in net profit in 2013 to IDR175,445 million as its revenues jumped 28.4% to IDR1,193,952 million. Both assets and liabilities were up by 22.39% and 20.98%, respectively.

In the telco business, TLKM’s profit grew 10.54% to IDR14,205 billion in 2013. Revenues growth was at 7.55% while assets and liabilities were up by 14.89% and 13.82%, respectively.

Technically Speaking...

JCI broke through its resistance at 4,665 and went all the way to 4,688. The index is now eyeing at the next big thing at 4,791.

Recent peak-turned-support at 4,665 will be the nearest key support line for JCI, whereas another support will be at 4,510 as this was also the prior resistance-turned-support.

Next resistance is seen at around 4,791.

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 risks pullbacks but the upside potential remains intact.

Day Ahead

As Ukraine stays cool and US jobless claims managed to beat the consensus, the investors’ mood stays upbeat. This signals for more gains to come in the Friday’s session. Still, the recent rally points at potential short-term correction is still a risk for JCI.

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Diposting oleh di 14.15
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