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, 15 Juli 2014

Morning Dew - 16 July 2014

Mood Swings

JCI gained again on Tuesday as mood swings continues ahead of the real count announcement on July 22nd.

As political landscape remains foggy at best, the market could also find no key catalysts both domestically and globally.

One thing worth mentioning would be Janet Yellen’s recent speech which underlined the Fed’s monetary policy, especially regarding interest rates. According to Yellen during the Senate Banking Committee speech, the US job markets are far from healthy and that the Fed will keep the current loose monetary policy until hiring and wage data show that impacts from financial crisis are gone.

USDIDR gained to end at 11,709 per US$, up from 11,627 per US$ on Tuesday.

Fiscal Stimulus

Indonesia is set to implement its third fiscal policy package in July.

The tax incentives  - which includes tax allowance and tax holiday – will be accompanied by a dividend tax exemption for both domestic and foreign companies. The exemption will apply if the dividend is re-invested in Indonesian assets.

Companies which organize training programs or r&d programs for their workers are also eligible to obtain tax incentives.

Technically Speaking...

JCI fought back and reached 5,070 at the end of the day.

The next resistance lies at 5,165, the recent intraday high. Beyond this the index will aim at 5,251 – the all-time high seen last year.

Near-term support is seen at 5,000, followed by 4,900, the former EMA-50 resistance now turned as support. Afterwards, 4,800 and 4,775-4,780 where the 100-day EMA lies.

MACD advance picked up again, while RSI has been fluctuating around the overbought area.  Volume was up for a bit on Tuesday, suggesting that the fall might have been temporary and that a rebound is close by.

SMRA and WSKT recos are still awaiting their entry prices to be filled. Please check the details on the table below.

Day Ahead

Conflicting quick counts results means that the country will have to hold its breath and wait until July 22nd when the official result will be announced by the KPU. Still, the market seems to be favoring Jokowi-JK’s win. Early euphoria seemed to be short-lived and the mood has returned to somewhat neutral. Stay cautious until the real results are announced.

Diposting oleh di 13.54
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