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, 01 Juli 2014

Morning Dew - 2 July 2014

Inflation Slowed in June

JCI gained slightly to end at 4,884.83 as the index continues its consolidation ahead of the coming presidential election.

Inflation data released on Tuesday showed an acceleration in month-on-month data from 0.16% to 0.43% in June. In terms of year-on-year data, inflation actually slowed to 6.7% from 7.32%. Both figures were lower than consensus.

Exports fell 8.1% while imports fell 11.43% in May, taking the balance of trade to a surplus of US$0.07billion, reversing the April’s deficit of US$1.96billion. When exports declined more than imports.

Manufacturing sector showed slight improvement in June, shown by the HSBC Manufacturing PMI which stood at 52.7 against 52.4 seen in May.

USDIDR fell further to 11,798 per US$, against the prior closing rate of 11,969 per US$.

Record Dow

Dow set new historical high as the average arrived within spitting distance to 17k level.

Manufacturing sector slowed slightly in the US as June ISM Manufacturing index fell to 55.3 from 55.4, below the consensus of 55.9.

Meanwhile, construction spending slowed to 0.1% month-on-month in May, from 0.8% seen in April.

Elsewhere in China, manufacturing PMI ticked up to 51.0 from 50.8 in June, while the HSBC Manufacturing PMI slipped to 50.7 from 50.8.

Technically Speaking...

JCI was slightly higher on Tuesday, but still confined within its consolidation range between 4,775-4,909 . The price struggled to hold ground above the 50-day EMA, but need more evidence to convince that the downside is over.

The next resistance lies at 4,909, followed by 5k and subsequently at 5,091. Beyond the latter the index will aim at 5,251 – the all-time high seen last year.

Next support is now seen at 4,800 and 4,775-4,780 afterwards where the 100-day EMA lies.

MACD inched slightly higher but still below the zero line while RSI has continued to seesaw near the neutral zone. 

We have added MBSS to the recommendation pool, the target price is set at 1,650, with the stop set below 1,050 and suggested entry at 1,195-1,205.

Day  Ahead

JCI is seen to continue trading within the confine of its consolidation range as the market essentially awaiting for the upcoming July 9th presidential election. After several key data were released on Tuesday, all eyes will be focusing on the BI rate decision on Thursday.

Diposting oleh di 14.19
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