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).

Kamis, 16 Oktober 2014

Morning Dew - 17 October 2014



Back and Forth

JCI took a step back on Thursday but still confined within the 4,895 and 5,023 in the short-term.

We continue to expect the index to trade between 4,895 and 5,023 in the short-term. One major domestic event will be the announcement of the new cabinet by Jokowi scheduled a day after the inauguration of the new president. 

James Bullard, one of the Fed’s officials,  urged the central bank to maintain its bond-purchasing program in this month’s meeting. While a supposedly positive thing for stocks, one opinion alone is not strong enough to sway the Fed from removing the stimulus completely this month and to start raising rates sometime in mid-2015. US stocks were somewhat muted upon the comment, but was unable to dodge the red on Thursday.

USDIDR ticked down to end at 12,207 compared to 12,229 seen on Wednesday.

BDMN, ANJT, SSIA

BDMN posted a 30% drop in net profit in the first 9-month of 2014 from Rp3T to Rp2.1T. The third quarter is considered as a challenging moment for the Indonesian economy as slipping commodities and the weakening of exports have limited the room for business expansions.

ANJT acquired 100% of Pusako Agro Makmur on October 15th 2014. The acquired entity is a CPO plantation company which is situated in the West Papua.

SSIA acquired new contracts worth Rp2.35T as well as recorded land sale of 22.8ha. For 9M14, SSIA’s new contracts have reached 63.5% of the targeted Rp3.7T worth of new contracts. Industrial land sale for 9M14 has reached 57% of target.

Technically Speaking...

JCI  stayed within the familiar range between the 200-day and 100-day EMAs (4,895 and 5,023, respectively) on Thursday.

Downside, the 200-day EMA at around 4,900 will be the near-term cushion for the JCI, while subsequent support area lies at 4,835-4,840 (prior congestion area).

On the upside, the psychological level of 5k will be the first hurdle, while 5,100 is the next resistance, followed by 5,150, 5,200 and another one at 5,251, ahead of the all-time record high at 5,262. 

The MACD continued to tick higher, approaching the zero line. The RSI has started to curl back up. Volume was up on Thursday.

It looks like WSKT will have to be scrapped soon as the stock reco is currently closer to its target price at 1,000. For now, we are keeping it open, however.

Day Ahead

While James Bullard’s statement about the Fed’s policy may present a relief for stocks, his opinion alone may not be enough to derail the Fed from its path to remove the bond-purchasing program this October as well as starting to raise the rates sometime in mid-2015. The market will also put the Jokowi’s inauguration and cabinet announcement next week.

Diposting oleh di 13.38
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