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Fundamental Report

Global stock markets traded mixed on Thursday: Asian bourses went down by 0.4% (140.8), EU markets edged up by 0.3% (347.5), while U.S. stock markets stayed closed for the Americans’ Thanksgiving holiday. Nikkei index led the downward momentum in Asia, as participants began expressing their doubts about the effectiveness of “Abenomics”: October data from Japan revealed consumer price inflation slowing to 2.9% YoY (vs. expectation of 3.0% YoY), its lowest level in a year.Meanwhile, in prepared comments for a speech by ECB President Mario Draghi, the governing council was unanimous in its commitment to resort to further instruments as needed, while warning that monetary policy alone cannot do all the heavy lifting. Speculation amongst market participants has grown over a timetable, should ECB launch its own full-scale asset purchasing program, amid persistent opposition from German officials like the Bundesbank's Jens Weidmann.Moving to our domestic markets, JCI ascended by 0.2% (5,145), after positive expectations over Indonesia's economic fundamentals followed the government's decision to cut fuel subsidies. The effect of the fuel subsidy cuts will become apparent once Statistics Indonesia (BPS) releases Indonesia's latest economic data (likely in early December). Thus, considering all the factors mentioned above, today weproject JCI to trade within 5,110-5,170.


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    Technical Report

    Jakarta Composite Index (JCI) : Sideways

    Estimasi indeks (28-Nov-14): 5.100-5.170

    Katalis:
  • Pemerintah menaikkan harga BBM, sesuai ekspektasi
  • BI menaikkan suku bunga acuan pada Nov14 sebanyak 25bps ke 7,75%
  • China menurunkan suku bunga acuan 40bps ke 5,6%
  • Ulasan teknikal:
  • Resisten IHSG di level 5.250; potensi konsolidasi di 4.840-5.250
  • Minor resisten di 5.100-5.150; area rawan profit taking
  • Basis support di 4.840; breakdown level ini mengkonfirmasi pola head-and-shoulder
  • Jika breakdown support 4.840, basis reakumulasi di 4.550-4.600

  • Our Best Trading Ideas For Today
    TLKM Add Potensi sideways market di 2.600-2.950
    CPIN Add Potensi sideways di 3.700-4.300
    ASRI Add Breakout MT trd range 430-490; target di 550

    MNCN

    Red

    Breakdown LT support 2.550; target koreksi 2.200

    ASII

    Red Breakdown sideways market di 7.150-8.000



     
     



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