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, 23 Oktober 2014

Morning Dew - 24 October 2014

Earnings Deluge

JCI rallied again on Thursday, as speculation over a “clean” cabinet took the index back above 5,100. Still, the index remains vulnerable should the announced cabinet turns out disappointing. Elsewhere, more companies are releasing their 3Q14 earnings and this could lead to individual factor dominating the market instead of the cabinet issue.

AMRT has prepared capex as much as Rp1.8T to Rp2.0T for 2015 to finance 1,000-1,200 new outlets. In the first half 2014 the company has opened 630 new outlets costing Rp900b. The planned addition of new outlets will bring the total number of stores to 9,757 stores. To finance the expansion the company will use internal cash as well as bank loans.

USDIDR inched higher to 12,034 from 12,026 on Thursday.

BTPN recorded net profit of Rp1.38T in 9M14, down from Rp1.67T seen last year. Net interest income fell from Rp5.27T to Rp5.01T while operating expenses were up to Rp3.13T from Rp3.02T. LDR by the end of September 2014 reached 97.31%, up from last year’s 92.39%.

Earnings Season

BMRI’s net profit up 13% in 9M14 to Rp14.5T vs. last year Rp12.8T. Net interest income jumped 26.5% while credit growth reached 12.4% to Rp506.5T vs. last year’s Rp450.8T.

WOMF saw net profit fell from Rp44.69b to Rp41.07b in the first 9 months of 2014. Total revenues were up to Rp1.24T from Rp1.17T seen last year and total expenses were up from Rp1.12T to Rp1.18T. 

In the first 9 months of 2014 UNVR managed to book net profit of Rp4.04T, slightly below last year’s Rp4.09T. Operating income fell to Rp5.48T from Rp5.49T.

Technically Speaking...

JCI  continued to climb on Thursday and managed to claw its way back above 5,100.

Downside, the psychological support 5,000 will be the first support, followed by the 200-day EMA at around 4,900 will be the subsequent cushion for the JCI, afterwards support area lies at 4,835-4,840 (prior congestion area).

On the upside, 5,150 is the next resistance, followed by 5,200 and another one at 5,251, ahead of the all-time record high at 5,262. 

The MACD continued to tick higher above zero line while the RSI has turned higher after spending some time on the neutral zone.

We expect the upside potential remains intact and we could see the index continues to attempt another follow-up rally on Friday.

Day Ahead

There’s still uncertainties surrounding the announcement of the cabinet. Meanwhile, as we approach the end of the month, more companies will release their 3Q14 results. There is still the risk for the index to turn lower should the cabinet turns out to be less favored. Strong gains in US stocks should give some support to the JCI on Friday.

Diposting oleh di 14.56
Label:

Tidak ada komentar:

Posting Komentar

Langganan: Posting Komentar (Atom)