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, 02 Oktober 2014

Morning Dew - 3 October 2014

Crash and Burn

JCI nosedived on Thursday as the index was under siege by myriads of factors both domestic and abroad. All sectors were down, with the JCI fell nearly 3%.

From Ebola scare which sparked earlier selloff on the global front, to the political tempest from within our own backyard, the index is also fell victim from the recent decline in rupiah against the greenback as the end of low interest rates environment in the US is coming to an end.

USDIDR slipped further a bit, but stayed above 12k on Thursday, ending at 12,136 compared to 12,188 seen on Wednesday. 

Still trying to recover from recent hammering, the Dow managed to fight back on Thursday, trimming initial session decline of around 1% before ending the day down by 0.02%

SILO, AMRT

SILO plans to build another four hospitals this year and next year. The company expects the expansion to raise income by 35% to 40% each year. One hospital is planned to be opened in Medan (this month) while another in Kupang (November 2014). The other two are still pending construction next year. The cost to build one hospital is estimated around Rp200b-300b.

AMRT is also targeting expansion by opening 800 to 1,200 new outlets throughout 2014, costing the company between Rp1.8t to Rp2t. The company said the financing will come from both internal funding and bank loans.

Technically Speaking...

JCI sliced through its lines of supports as the key support at 5k was briefly broken. As the index went off its track and away from its consolidation between 5,100-5,262, the outlook remains cloudy at the moment.

Downside, we are staring at the risk of deeper selloff towards the 200-day EMA at around 4,885. Of course, the 5k line is still effective, but weakened due to recent selloff.

On the upside, prior support at 5,100 now turned as near-term resistance, followed by 5,150, 5,200 and another one at 5,251, ahead of the all-time record high at 5,262. Subsequently, the next psychological hurdle for the index at 5,300. 

The MACD fell sharply while the RSI is approaching the oversold area. While volume was fading during the selloff, we cannot rule out another run to the south. 

For short-term, expect the index to stage a bit of correction. Upside is expected to be capped at 5,100 for now, but the downside is also seen cushioned around 5,000.
BRNA has been filled, leaving WSKT as the remaining open reco. ADHI unfortunately, tripped its stop and exited at 8.96% losses.

Day Ahead

JCI has been derailed from its recent consolidation range of 5,100-5,262 as the index briefly fell below the 5k mark before ending the day slightly above 5k. Equities abroad remain vulnerable, but so far another onslaught may be off the table for now, providing support for JCI on Friday. We expect the JCI to stabilize with limited recovery on Friday.

Diposting oleh di 15.42
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