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, 19 Agustus 2014

Morning Dew - 20 August 2014

Taking A Pause

JCI continued to take a pause around the resistance at 5,165 as the verdict from MK is expected tomorrow. 

Lack of key issues or data have left the Constitutional Court’s decision this week as the major factor to shape the market’s sentiment. Most market participants have been betting that Prabowo-Hatta may fail at the MK stage and that Joko Widodo is likely to be the winner of the last election. 

Another factor to be considered by investors is the Fed Minutes of the most recent FOMC meeting which would reveal or at least, hint on how soon the Fed will raise rates after the stimulus program ends sometime in the fourth quarter.

USDIDR was marginally higher at 11,682 on Tuesday compared to Monday’s settlement at 11,681.

US Inflation Update

US Core CPI was up 1.9% (YoY) in July, unchanged from June. The month-on-month figure was also steady at 0.1%.

Headline inflation slowed to 2% from 2.1% (YoY) and 0.1% from 0.3% (MoM).

Timid inflation may provide a case for the Fed to maintain its easy monetary policy for now, giving a boost for US stocks to rise on Tuesday.

Meanwhile, housing starts were robust in July as construction jumped 15.7% from a month earlier.

Technically Speaking...

JCI continued to consolidate its gains near 5,165 resistance while briefly hit 5,178 on Tuesday.

As 5,165’s role as resistance has been continuously eroded,  focus now turns to subsequent resistance at 5,251, the all-time record high.

Near-term supports are seen at 5,135, the recent lower consolidation band, 5,039 and 5,000, followed by 4,950, the former EMA-50 resistance now turned as support. 

MACD continued to tick up into the positive area whilst RSI seesaw near the overbought area and volume also gained on Tuesday.

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

Repeat: MBSS has been unsuspended and trading returns to normal.

Day Ahead

Lack of catalysts have pushed the index towards a listless trade on the start of the week. The end of election dispute is expected in midweek and the odds favor the election result to remain unchanged. In such case, we may move on to the next issue: the cabinet. Elsewhere, global investors may set their sights on the release of Fed Minutes of the recent FOMC meeting.

Diposting oleh di 15.35
Label:

Tidak ada komentar:

Posting Komentar

Langganan: Posting Komentar (Atom)