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, 27 Mei 2014

Morning Dew - 28 May 2014

In A Standstill

As the week is to be cut short by two holidays, investors are expected to prefer staying on the sideline. With hardly any fresh catalysts set to move the market, the JCI is seen trapped in a sideways consolidation move.

BI Governor on Monday said that Indonesia trade balance is expected to be around US$600 million in April 2014, slightly lower than the surplus of US$673 million recorded in March 2014. Improving non-oil and gas exports, stable commodity prices and dissipating impact of Minerba Act are seen behind the April surplus. Declining imports of raw materials are also supporting the surplus, but this could mean slowdown in domestic investment.

No significant economic release is scheduled this week, but next week the May inflation data is set to be released.

IDR started the week on a wrong foot as it continued to weaken to 11,633 from 11,560 vs US$.

U.S. Data Due

US durable goods orders were up 0.8% in April, beating the consensus which forecast a drop of 0.7% but still way slower than 3.6% increase seen in March. 
Excluding transportation items, April orders slowed from 2.9% to 0.1%, slightly better than the consensus forecast.

House price index were up 0.7% in March (MoM), better than the 0.5% increase forecast as well as slightly faster than the 0.6% seen in February.

Consumer confidence also ticked up from 81.7 to 83.0 in May.

Technically Speaking...

JCI slipped slightly on Monday as holiday-shortened week dampened trading appetite. 

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 flattened as market activity slowed. Volume is expected to be thin 
throughout the 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.

Day Ahead

Market is closed on Tuesday, but will open as usual on Wednesday. Lack of fresh catalysts may dampen trading volume as the market will be closed again on Friday. Positive Dow overnight may help support sentiment however, but still upside is seen limited.

Diposting oleh di 14.05
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