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Fundamental Report

lobal stock markets traded mixed yesterday: Asian and EU markets retreated by 0.1% (137.2) and 1.0% (326.6), while US market rose by 0.6% (16,263). Asian markets were pulled down by China markets (dropped 1.4%, settling at 2,101), apparently as a result of profit-taking amidst disappointing money supply data (M2 only rose by 12.1% in Mar14 - lower than participants’ estimate at 13.0%), along with anticipation that China economy might decelerate to 7.3% YoY in 1Q14 from 7.7% in 4Q13 (to be fixed today). Across the ocean, risk appetite in EU equities was suppressed by disappointing economic data (German confidence slid to 43.2 in Apr14 from prior 46.6, lower than participants’ estimate at 45), along with raising tension in EU (it was reported that Russian troops had entered towns in eastern Ukraine). In the meantime, US markets managed to trade against global trends, supported by US CPI which edged up 1.5% YoY in Mar (vs estimate 1.4% YoY) – suggesting that US was able to managed disinflation pressure, while better-than-expected retail sales in Mar13 (recorded at 1.1% MoM – vs estimate of 0.9% MoM) have boosted participants’ confidence. Moving to our domestic markets, JCI was depressed by profit-taking amidst escalating pressure on Indonesian Rupiah (weaken by 0.1%, settling at Rp11,428), with no major negative sentiments during trading day. Having mentioned all above sentiments, today we project JCI trading sideways within 4,830-4,910.

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  • Download Fundamental Daily Report

    Breakout LT resisten di 11.100; target di 12.000 Technical Report

    Jakarta Composite Index (JCI) : UP

    Estimasi indeks (16-Apr-14): 4.830-4.910

  • Inflasi Mar14 di 7,3% YoY (lebih baik dari ekspektasi pasar di 7,4% YoY)
  • BI Rate diperkirakan tetap 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
    ICBP Add

    LT trading range 9.700-11.500

    AKRA Add

    Potensi trading range di 4.600-5.200

    TAXI Add LT trading range di 1.200-1.860
    BSDE Red Level 1.590-1.600 area profit taking (resiten neckline)
    TLKM Red Level 2.375-2.450 area profit taking


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