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, 17 Juni 2014

Morning Dew - 18 June 2014

Eyes on the Fed

JCI has broken its support area around 4,865, driving the JCI back into the recent range between 4,865-4,911.

US CPI gained 0.4% (MoM) and 2.1% (YoY) in May. Both figures beat the consensus of 0.2% and 2.0%, respectively. While inflation gains pace, the growth itself has been pretty much within the Fed’s tolerance. Meanwhile, housing starts fell 6.5% in May, reversing a 12.7% gains in April.

FOMC meeting will conclude its 2-day meeting today and it is widely expected that rates will stay unchanged while another US$10bn of stimulus is about to be slashed. Other than the rate decision will be the speech delivered post-meeting, which could be slashed

USDIDR scored another gains to finish the day at 11,863 from 11,814 on Tuesday.

Pupuk Indonesia Sells Bonds

Pupuk Indonesia offered two series of bonds: A with 3-year term and B with 5-year term.  The company expects Rp3.7T to be raised from the bond offering, of which 41% to be used to pay loans for its subsidiary, while 32% for expansion of PT Pupuk Kalimantan Timur. About 8% will be allocated for the company’s development of logistics and 12% and 7% to develop the company’s business entities in energy and property sectors, respectively.

Technically Speaking...

JCI continues to move back and forth within its consolidation range between 4,865 and 5,091.

Resistance is now seen at 5k and subsequently at 5,091. Beyond the latter the index will aim at 5,251 – the all-time high seen last year.

Support is seen at 4,865 in the short-term, roughly around the same level as the 50-day EMA curve. Subsequent support lies at 4,800. 

MACD heads lower again after several failed attempts to return to above the zero line. RSI has also turned lower, heading towards the oversold area. 

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

JCI is seen to continue consolidating between 4,865 and 5,091 for now as the market continues to wait for the upcoming presidential election on July 9th 2014. FOMC meeting will be the biggest event for this week. As usual, the FOMC is set to take away another US$10bn off its stimulus while readying the market for its policy change in 2015.

Diposting oleh di 15.21
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