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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).

Sabtu, 24 Mei 2014

Morning Dew - 26 May 2014

Mixed Finish

JCI finished mixed on Friday as lack of catalysts sapped the market activity ahead of holiday-shortened trading sessions next week. No new developments on the political front also sent the investors back into the consolidation period where they will prefer to wait and see and staying on the sidelines for a time being.

Indonesian government has proposed an additional US$6.5 billion to finance fuel subsidies in 2014 while also planning to raise the budget deficit to 2.5% of GDP (more than 1.69% projected initially).

US new home sales were up 6.4% in April (month-on-month) vs. 6.9% decline in March but significantly below the consensus rise of 10.7%.

USDIDR continued to tick higher to 11,560 from 11,515 on Thursday.

Upcoming U.S. Data

The coming week will feature data coming out of U.S.: the durable goods orders for April, the Composite PMI as well as service PMI for May and the consumer confidence index for May.

First quarter U.S. GDP  as well as the personal consumption data for the first quarter are also set for release.

On Thursday, initial jobless claims for the week ending May 17th and the pending home sales for April are scheduled for release.

Technically Speaking...

JCI inched higher on Friday but still short on retaking the 5k mark.

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

Support is seen at 4,900 and 4,868 in the short-term and 4,800 afterwards.

MACD and RSI bounced as the index recovered its ground. Volume ticked down on Friday and expected to be thin next week due to holidays on Tuesday and Thursday.

No additional recommendation for now, and at the moment a total of seven recommendations are active and all of them are holding on.

Week Ahead

Lack of fresh catalysts from domestic and the foreign fronts is likely to send the JCI back into a consolidation period, especially with just three trading sessions available next week. The market will remain cautious over the political dynamics ahead of the July presidential election.

Diposting oleh di 16.44
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