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).

Jumat, 25 April 2014

Morning Dew - 28 April 2014

Listless
  • JCI continues to hover around 4,900 handle as the market awaits new catalysts, both on the domestic front and the overseas ones.
  • US Composite PMI was down to 54.9 in April as preliminary figure shows. Previously, the index was at 55.3 in March. On the service side, PMI also ticked down from 55.3 to 54.2 in April. Market had expected it to inch higher to 55.5. Confidence improved in April as suggested by the U of Michigan’s data. The index stood at 84.1, more than the consensus figure of 83.0 as well as the prior number of 55.3.
  • USDIDR inched lower to 11,601 from 11,608 seen on Thursday. The currency is still overshadowed by the statement from BI Governor a while back about the possibility that CAD will be back above 2% of GDP.
HERO, HOME
  • HERO posted a 16% increase in net revenue in 1Q14 to Rp3,132 billion from Rp2,695 billion, but the net profit for the period was unchanged at Rp55 billion. EPS fell to Rp13 per share from Rp16 per share, reflecting the impact of new shares issuance.
  • HOME’s 1Q14 revenues were up to Rp11,592 million from Rp10,055 million a year earlier. Losses for the year worsened to Rp2,136 million from Rp2,053 million seen last year. EPS fell further to -Rp3.77 per share from -Rp0.91 per share
Technically Speaking...
  • JCI continued to flirt around the 4,933 resistance level as consolidation takes the index nowhere.
  • While the star pattern has failed to be confirmed so far, the next one developing on the daily chart is the head-and-shoulders pattern with the neckline projected around 4,750 or just above the 50-day EMA. The left shoulder is at 4,903, the head at 4,933 and 4,916 is so far the right shoulder. Volume shows decreasing pattern from the left shoulder to the right one, adding credibility to the pattern.
  • JCI needs to break through the nearest resistance seen at 4,933 to negate the H&S pattern. Higher, subsequent resistances lie at 5,000 which is the psychological resistance and later the projection target at 5,063.
  • MACD declined, moving away from the zero line while the RSI curve turned lower as sideways movements tend to pull RSI down.
Week Ahead

It’s clear that the market awaits how the political situation will develop ahead of the presidential election in July. Lack of fresh catalysts from abroad and domestic sides have brought market focus towards the flow of 1Q14 financial reporting. The earnings reports will flow more intense as we inch closer towards the end of the month.

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Diposting oleh di 21.06
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