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).

Minggu, 21 September 2014

Morning Dew - 22 September 2014

Clearing the Barrier

JCI finished the week higher at 5,227.58 after a brief spell at 5,250.83. The index is still struggling to clear the hurdle at 5,250-5,262 as lack of significant catalysts brought uncertainties.

Recent FOMC meeting provided nothing new while domestic data also offers limited impacts both negative or positive.

Golden Plantations and Archi Indonesia are scheduled to conduct a mini-expose the coming week. Golden Plantations is involved in CPO business while Archi Indonesia is within the mining sector. Both plan to go public this year. Blue Bird is also another company scheduled for IPO this year. The taxi operator is seen to become the biggest IPO in Indonesia with US$450 million is to be raised from the IPO.

USDIDR slipped to 11,985 on Friday after hitting 12,030 a day earlier. BI official on Friday said that the exchange rate should be within the range of Rp11,600 to Rp11,900 against the US$ to support export growth.

AALI, UNTR, AISA

AALI is set to distribute its interim dividend for the FY14 worth Rp244 per share. The dividend is to be paid on October 28th 2014.

UNTR is also set to distribute its interim dividend worth Rp195 per share on October 28th 2014.

AISA plans to sell 10% of its shares to KKR & Co. Lp. amounting to Rp658b, effectively raising the ownership of KKR to 25%. The sales of 292.6 million shares will be conducted at the price of Rp2,250 per share. Proceeds from the deal will be used to fund the company’s expansion to overseas markets such as Malaysia and Vietnam.

Technically Speaking...

JCI posted gains last week, but still short of breaking through the upper barrier at 5,250. 

The index is, once again expected to defend the recently reclaimed 5,200 
resistance mark, aiming at taking back its recently won 5,251 resistance ahead of the all-time record high at 5,262. Subsequently, the next psychological hurdle for the index at 5,300. On the downside, we have 5,117, which is roughly the same as the 50-day EMA curve. Should we broke below this line, more supports are seen at 5,039 and 5,000.

The MACD has continued to approach the zero line, while RSI is now approaching the overbought area again, volume seems to be steady recently. While all these are somehow good signs for the index, we should remain cautious over the risk of another setback as we approach the upper end of the expected trading range.

Week Ahead

Too early to conclude that the downside is secured. Even as the index returns above 5,200 mark, it is seen struggling to break out of the recent range between 5,100 and 5,250. While the upside prospect has somewhat brightened, the downside risk remains. The coming week will feature manufacturing sector’s performance data in September from major world economies.

Diposting oleh di 14.26
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