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Fundamental Report

Global equity markets traded mixed on Wednesday: Asian and U.S. markets rose by 0.3% (155.2) and 0.1% (18,059), while EU bourses fell by 0.4% (407.2). China stocks advanced on Thursday, despite HSBC survey showing that nation’s manufacturing activity at a one-year low: China's factory activity for April came in at 49.2, compared with an estimate of 49.6. Participants simply shrug it off, and take this into consideration as another impetus for Beijing to continue stimulating its economy. Meanwhile, Euro shares descended, as Markit's flash composite Purchasing Managers' Index fell to 53.5 in April (lower than market estimate of 54.4), indicating that growth in Eurozone business activity has slowed. Across the ocean, U.S. stocks closed higher, as investors cheered corporate reports, in which earnings for the most part have come in better than expected. Participants were also delighted as oil prices rebounded by 1.8% (US$57.7/bbl), further fueling positive sentiment. Moving to our domestic markets, JCI traded flat, as it lacked strong economic catalyst to move the market Thus, having considered all the above factors, today we project JCI to trade within 5,410-5,470.
Headline News

• OJK to ease LTV requirement
• ANJT to allocate US$100m in capex
• KIJA pockets Rp300bn in marketing sales
• ADHI and WSKT to raise $641.0m from planned right issues
• PTBA to take over Resource Energy Ltd.
• TOWR targets 12.0% revenue growth
• 1Q15 Financial Result: BBNI

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Technical Report

Jakarta Composite Index (JCI) : Sideways

Estimasi indeks (24-Apr-15): 5.410-5.470

Katalis:
  •  Inflasi Mar15 sesuai dengan ekspektasi pasar di 6.4% YoY
  •  ECB mempertahankan suku bunga acuan pada 0,05%
  •  PBoC memangkas reserve requirement ratio sebanyak 100bps ke 18.5%
  • Ulasan teknikal:
  • Tren naik sejak Okt14 masih solid
  •  IHSG breakout resisten level 5.250; target berada di 5.500-5.600 tercapai
  •  Basis support throwback market di 5.250
  • Target breakout pola Ascending triangle periode 2011-2014 berada di 6.350-6.450
  • Our Best Trading Ideas For Today
    TLKM Add Potensi konsolidasi di 2.775-2.950
    UNVR Add Breakout LT resisten 34.500; target naik di 43.000
    ITMG Add Basis support di 14.300, minor resisten di 16.500

    SMGR

    Red

    Breakdown MT trading range 14.300-17.100

    CPIN

    Red Target breakdown 3.700 di level 3.100-3.200



     
     



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