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, 29 September 2014

Morning Dew - 30 September 2014

Political Storm

JCI finished slightly up after being slammed by political storm on the domestic front. Coupled with lack of fresh catalysts, this condition prompted investors heading for exits.

Dogged by myriads of issues, USDIDR continued to march higher to start the week finishing at 12,120, against Friday’s 12,007.

BORN’s net sales fell 72.61% by March 2014 to US$37.06 million against US$138.61 million seen last year. Net losses also jumped to US$85.28 million against prior losses of US$14.18 million.

Overseas, Hong Kong crisis sent the Hang Seng index plummeting nearly 2% on Monday. Demonstrations by pro-democracy protesters flooded Hong Kong demanding Beijing for free and open elections.

AALI, CNKO

AALI booked 1.14 million ton of CPO production for the first eight months in 2014, up 20% against the same period last year. Sales volume also up 20% and reached 889,978 ton with olein sales volume reaching 137,976 tons. Also, the average selling price by the end of August was up 27.8% from Rp6,735/kg (2013) to Rp8,604/kg.

OCBC was reportedly divested its CNKO shares worth Rp3.77b on September 18th 2014. The number of shares sold was 14,800,000 shares priced at Rp255 per share. Only 9.39% of CNKO is currently owned by OCBC.

Technically Speaking...

Monday saw the JCI slipped again well below the 50-day EMA before it again resurfaced above 5,100 at the end of the trading session. The prompt rebound may save another day for the index, but the outlook remains murky right now.

As we mentioned earlier, 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, and the volume remains relatively stable. For now,  we can expect the index to maintain its position within 5,100-5,262 consolidation range.

Note that ADRO has met its entry price, so the reco is now open.

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 15.03
Label:

Tidak ada komentar:

Posting Komentar

Langganan: Posting Komentar (Atom)