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, 18 Desember 2014

Morning Dew - 19 December 2014

Breaking the Barrier

World stocks celebrated the FOMC’s wording as markets rallied on the assumption that the US federal funds rates won’t be up as soon as originally thought. Oil prices which have been under pressure recently, are dampening the prospect of higher rates.

JCI also cheered the Fed’s statement. The index jumped 1.5% to end back above 5,100 at 5,113. This has re-opened the prospect of breaking through the tough barrier around 5,262 and to end the year on a strong footing.

USDIDR continued to slide from the recent peak at 12,900 to 12,565 by the end of Thursday’s trading session. A perceived delay in US interest rates hike seemed to have put a brake on USD-based assets purchases and redirecting the flow back to IDR-based assets.

Overnight, US jobless claims were reportedly down by 6k in the week ended Dec 13.  The smaller the number the claims, the better and the figure supported the recent payrolls data which showed an additional of 321k jobs  back in November.

GWSA, Oil

GWSA: is offering bonds worth Rp500bn with the coupon rate between 13% and 14.25% with 5-year term. The proceeds from the bonds will be used to finance the construction and operational activities of TCC Batavia Tower (Rp150bn) and for developing projects and business development of the company.

From the energy market, WTI crude oil price saw another drop of $1.77 (3.13%) to $54.70/bbl while the Brent crude oil also fell $1.55 (2.53%) to $59.63/bbl.

Technically Speaking...

JCI returned above 50-day EMA curve again as the strong showing on Thursday also bent the MACD, putting the MACD back on track to resurface beyond the zero line. Judging from the volume, Thursday’s rise was backed up by a very strong volume and this surely a good news for the bulls.

However, should the index fails to follow through the recent gains, it will risk returning to the bottom end of the recent consolidation range around 4,900.

We have seen a test of 5,200 resistance, but successful breakout remains elusive. 

Beyond 5,200, the subsequent resistance will be at 5,251, ahead of the all-time record high at 5,262. 

The week will offer similar trading range for the JCI, between 5,000 and 5,250. 

Day Ahead

JCI is poised for a merry ending this week as US stocks resumed its power rally overnight.. Rupiah is likely to strengthen more following   the Fed’s recent comment. For Friday, JCI is seen between 5,100 and 5,200.

Diposting oleh di 14.31
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