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).

Senin, 04 Agustus 2014

Morning Dew - 5 August 2014

Fresh Start

JCI was off to a fine start after a week-long holiday. The index jumped 0.6% to end the day above the 5,100 mark.

We now have passed the election as well as the corporate financial reports for the first half of 2014. The market is still digesting the numbers on the reports while also waiting for the MK to deliver its decision to eventually end the dispute between two rival presidential candidates later this month.

U.S. stocks have also found its footing after having pummeled throughout last week with the S&P tumbled 2.7% amidst the default of Argentina and the fall of Banco Espirito Santo.

USDIDR jumped to end at 11,747 per US$ from 11,591 per US$ on Monday.

Spirited Away

As mentioned in our monthly review,  the Fed has stayed on course to remove the bond-purchasing program entirely by October. In its recent FOMC meeting the central bank has reduced the bond buying amount to US$25bn.

Portugal’s central bank has decided to bail out the troubled Banco Espirito Santo with the bailout value of 4.9 billion euros. The troubled bank has hurt global sentiment last week along with the S&P’s announcement of Argentina’s default.

Technically Speaking...

JCI bounced off its support at 5,050 on Monday to start the week on a solid footing as the index finished the day up by 0.6% at 5,119.25.

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 supports are seen at 5,039 and 5,000, followed by 4,950, the former EMA-50 resistance now turned as support. 

MACD stable near the zero line after several consecutive downticks, while RSI has started to slip below the overbought area accompanied by declining volume.
ADHI has found its entry price at 3,070 and now the reco is open with target at 4,000 and stop level below 2,800.

SMRA and WSKT recos are still awaiting their entry prices to be filled, in addition ADRO has been added in queue. Please check the details on the table below.

Day Ahead

Politics will still play its key role in shaping the market sentiment this week. While most people seemed to have abandoned the scenario that Prabowo-Hatta will win the case at the MK stage, we cannot ignore such risk, albeit minimal. Also, candidates to fill in the ministers’ post in Jokowi-JK’s cabinet are the potential next attraction points for investors. Later this week, the US nonfarm payrolls will once again sap the market attention.

Diposting oleh di 15.23
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