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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, 27 Oktober 2014

Morning Dew - 28 October 2014

Not Impressed

The market reacted poorly towards the announcement of Jokowi’s cabinet on Monday. The JCI fell almost 1% to end at 5,024, sending the index back to its familiar consolidation range.

As the cabinet issue is passed, the next on the agenda will be on the government’s plan to raise the fuel price. Whether the hike will be by Rp3,000 or not remains to be seen. 

ADRO’s ratings have been affirmed by Fitch at BB+ with stable outlook.

WSKT management said that the target sales worth Rp11.8T this year may be hard to reach. Rather, the company may only achieve around Rp10t this year. Still, the target net profit for this year which is at Rp442b, is still within reach. 

INDX gained net profit of Rp35.73b in 9M14, up from Rp5.76b last year. The jump was propelled by strong revenues which climbed to Rp127.17b from Rp91.77b.

USDIDR slipped a bit to 12,042 from 12,065 on Monday.

Earnings Season

TLKM’s 9M14 revenues were up 7.06% from Rp61.50T to Rp65.84T. Net profit attributable to owners’ entity also increased from Rp11.06T to Rp11.45T.

LRNA’s net profit fell to Rp1.98b from Rp7b in 9M14 while operating revenues fell from Rp120.65b to Rp103.72b.

BRAM reported a rise in sales from US$142.39 million to US$156.76 million in 9M14 while operating profit increased to US$20.06 million from US$5.66 million. Net profit jumped to US$11.95 million, from US$3.2 million, up 272%.

Technically Speaking...

JCI fell again on Monday as the index returned to the lower 5,000s, just hitting the 100-day EMA after failing to capitalize on recent pop above the 50-day EMA.

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 has started to turn lower while slipped after previously approaching the overbought area.

While we expect the upside potential remains intact, the odds for the index to slip further has also increasingly probable. Nevertheless, the index is seen returning to its consolidation range between 4,900 and 5,100.

Day Ahead

The cabinet has been announced and the market doesn’t seem to be upbeat over it. This shifts the focus towards the next issue: fuel price, which is expected to rise this coming November. Elsewhere, no key developments are to be expected from abroad. Earnings season continues on the domestic front and this too will sap the market’s attention for now, sending stocks to tend to move individually.

Diposting oleh di 14.39
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