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).

Selasa, 20 Mei 2014

Morning Dew - 21 May 2014

Sell On Fact

Profit taking continues to hit the JCI on Tuesday, taking down the index back below 4,900. Just a day after the contending pairs of the upcoming presidential election were announced, the index took a heavy blow as the balance of support between the two rival pairs turned to be in favor of Prabowo-Hatta. Still, the legislative portion simply cannot guarantee anything at the moment, which led the market to simply choose to cover its profit first.

A new cold war could be in place as the EU, United States and Ukraine stated that they see no withdrawal of Russian army from the Ukrainian border and that Russia are misinforming the international community over the issue. Recently, Russia claimed that Russian troops have started their withdrawal from the border.

USDIDR bounced to 11,441 from 11,351 on Tuesday.

BSDE Dividend

Real-estate developer BSDE plans to issue dividend worth Rp275.58bn or 10.24% of the total net profit in 2013, or Rp15 per share. About 89.69% or Rp2.41tn of total net profit will be allocated as retained earnings to strengthen the capital structure of the company. BSDE booked revenue of Rp5.74tn in 2013, up from Rp3.73tn in 2012. A land sale to its subsidiary worth Rp1.2tn was the major factor behind the improving performance.

Technically Speaking...

JCI crashed below 4,900, opening a way further down below.  Next support will be at 4,800 (prior key low and just above the 50-day EMA) and subsequently 4,721, another prior key low which coincides with the 100-day EMA.

Beyond the resistance at 5,063/93 the index will aim at 5,251 – the all-time high seen last year.

MACD turned lower as the sharp fall also bent the RSI, pushing it away from the overbought area. Volume however, has been declining despite the sharp selloff. 
DILD continues to seek entry while MTDL sharp drop on Tuesday took it down below the stop level as it forced the reco out with 7.32% losses.

Day Ahead

Golkar’s support to Prabowo-Hatta for the upcoming presidential election has cast some concern over the odds of easy win for Jokowi-JK. This will continue to haunt the bulls for now, giving the bears the advantage at least until the real election comes. From the US, the FOMC minutes will be the focus of the day in the New York session.

Diposting oleh di 15.10
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