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).

Sabtu, 12 April 2014

Morning Dew - 14 April 2014

Back On Track?

Friday’s bounce took the JCI back above 4,800, putting the upside potential intact.
Last week’s election put the JCI’s rally to a screeching halt as the quick count results showed that no single party was able to collect at least 20% of the votes to pass the requirement to propose a presidential candidate. The market is now watching the political landscape closely to see how the parties form coalitions to pass the threshold. 

US stocks have been under pressure as tech stocks plummeted. The fall is a strong reminder of the dot com burst some years ago. This time however, valuation has been cited as the culprit behind the fall.

USDIDR continued to rise to 11,450 from 11,342.

MDIA Debuted, China’s Data

Intermedia Capital Tbk (MDIA) made its debut on Friday as the shares were offered at IDR1,380 per share. The stock ended up almost 10% at the end of its first trading day.

Bappenas (Ministry of National Development Planning) sees 6.7% rise of exports to IDR1,399.7tn in 2014 as global economies are seen improving. Imports are seen up 5.7% to IDR1,075.2tn, bringing the trade surplus to be around $28-29 billion in 2014.

Technically Speaking...

JCI bounced off low and returned above 4,800 on Friday as bargain hunting set in. 

The nearest resistance is seen at 4,839, followed by4,930, the recent intraday high ahead of 5,000 which is the psychological resistance and subsequently the projection target at 5,063.

Key support lies at 4,661 which corresponds to the 50-day EMA curve.

Volume has been slipping however, as the MACD sunk bank below the zero line and the RSI curve curled back down.

WIKA is added to the reco list. It is suggested to entry at 2,100-2,140 while the stop is set below 1,900 and the target price is set at 2,500.

Day Ahead

Upside potentials are maintained based on the Friday’s bounce, but the US stocks weakness may become a drag for the JCI early next week. Politics are seen as the key to the JCI’s next path.

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