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, 30 September 2014

Morning Dew - 1 October 2014

Weathering the Storm

JCI ended slightly down after initially under pressure. Weak sentiment has weighed on the index recently due to political tempest on the domestic front.

USDIDR continued to climb on Tuesday, reaching 12,212 by the end of the day against 12,120 seen on Monday. The currency has been dogged by myriads of issues lately, both from the domestic and from the global front.

UNIT booked sales worth Rp38.32b in the first six months of 2014, down 14%from the same period a year ago (Rp44.56b). Net profit attributable to owners fell to Rp52.51 million from a year earlier (Rp191.95 million).

INKP and TKIM are set to distribute cash dividend for the FY2013 on November 5th 2014. INKP’s dividend amounted to Rp25 per share while TKIM’s worth Rp10 per share. 

ZBRA

ZBRA shareholders agreed to conduct debt restructuring worth Rp30.07b. The debt-to-equity swap scheme is set to exchange the debt with 15.35% of shares to PT Infinity Wahana, one of the company’s shareholders. The DES scheme will raise Infinity’s holdings to 37.65% from 22.3%.
ZBRA plans to add another 130 units of taxi in Surabaya with estimated cost of Rp18.5b. In October, 30 units will start operation, 50 units in November, and 50 units in December. About 25% of the funding comes from internal while 75% came from non-bank institutions.

Technically Speaking...

There is nothing new under the sun as the JCI slipped slightly after briefly touched the support at the lower 5,100s. It bounced back at the end of the trading session, returning close to Monday close. The outlook remains murky right now, however.

As we mentioned yesterday, the JCI is at risk of heading towards the next supports at 5,039 and 5,000 as the 50-day EMA has been punctured.

On the upside, prior resistance at 5,200 is back, followed by resistances at 5,251, ahead of the all-time record high at 5,262. Subsequently, the next psychological hurdle for the index at 5,300. 

Taking guidance from the indicators, the MACD continues to move away from the zero line deeper towards the negative area; the RSI has stopped sinking for now, while volume is rising. For now,  we can expect the index to maintain its position within 5,100-5,262 consolidation range with short-term upside bias.

Day Ahead

JCI is still seen struggling within a wide consolidation range of 5,100-5,262. Lack of fresh catalysts may put the index back under persistent pressure coming from domestic political storm as well as the continued weakness of IDR on the back of  the strengthening of the greenback as the end of Fed’s era of low interest rates coming to an end soon.

Diposting oleh di 17.23
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