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Fundamental Report

Global equities markets landed in mixed returns: Asian markets peeped up by 0.2% (138.9), while EU and US markets slid by 0.6% (335.1) and 0.1% (16,502). Asian markets were supported by Japan equities (rising by 1.1%, settling at 14,546.3), apparently influenced by expectation that dovish policy will be maintained, mainly as inflation target has not been accomplished (participants projected inflation in Mar14 at 1.6% vs target of 2.0% in 2015F). In the meantime, appetite in EU stocks was dampened by disappointing economic data ((French manufacturing and service sector decelerate to 50.9 and 50.3, lower from participants’ projection of 51.9 and 51.3) and rising concern on geopolitical risk in Ukraine (Government is resuming operations to oust the militants from eastern cities in Ukraine). Across the ocean, US markets fell after unexpected drop in manufacturing in Apr14 (PMI manufacturing dropped to 55.4 vs. 56.0 estimate) and disappointing home sales data in Mar14 (new home sales tumbled by 14.5% MoM vs. 2.3% MoM estimate, settling at 384K). Looking at our domestic market, JCI inched down by 0.1% (4,893) dragged down by profit-taking as a result of weakening Rupiah (0.9%, settling at Rp11,630/US$). Having considering all above sentiments, today we project JCI to continue trading sideways within 4.860-4.930.


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    Technical Report

    Jakarta Composite Index (JCI) : Sideways

    Estimasi indeks (24-Apr-14): 4.860-4.930

    Katalis:
  • Inflasi Mar14 di 7,3% YoY (lebih baik dari ekspektasi pasar di 7,4% YoY)
  • BI Rate dipertahankan di level 7.5%

  • Ulasan teknikal:
  • Resisten IHSG di level 5.250
  • IHSG berada di throwback market trading range 4.100-4.600
  • Basis support 4.600 menjadi ruang reakumulasi posisi
  • Level 4.300 menjadi basis support untuk LT trading 

  • Our Best Trading Ideas For Today
    AKRA Add Potensi trading range di 4.600-5.200
    MNCN Add

    Breakout trd range 2.300-2.750; target teoritis di 3.250

    PTBA Add Pola saucer bottom, target breakout 10.000 di 10.800
    ITMG Add Sup di 25.000; trading range di 22.000-28.500
    BDMN Red Potensi konsolidasi di 4.000-4.600



     
     



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