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GLOBAL MARKET IN TURMOIL

MORNING DEW - 18 MAY 2017

Composite index has a bearish rally for a second days amid uncertainty on S&P rating’s release. The index fell 31.51 pts (-0.56%) and closed at 5,615.49 level with total transaction reach more than IDR 6.9 Trillion. Foreign investor also booked a net sell as much as IDR 205 Billion in the market on Wednesday.

Today market might be volatile as global market having a turmoil. The Dow Jones Industrial Average tumbled more than 370 points and volatility spiked higher as the turmoil surrounding the Trump administration roiled financial markets around the globe. We predict that the impact will also hit our market following the other Asians market.

Meanwhile, here are the things you need to know for today.

  • Bank Indonesia will release Interest Rate Decision Today and many predict it will unchanged.
  • The S&P 500 Index fell 1.8 percent to 2,357.25 at 4 p.m. in New York, its worst day since Sept. 9. The measure touched an all-time high Tuesday.
  • The Dow average lost 372.82 points, the most in eight months, while the Nasdaq Composite Index plunged 2.6 percent for its steepest drop since June 24.
  • Data from Japan on Thursday will likely show the economy accelerated in the first three months of the year, posting a fifth straight quarter of expansion.
  • Crude futures added 0.8 percent to settle at $49.07 a barrel in New York. Markets are getting some encouragement from the U.S. as supplies fell for a sixth week, a sign that OPEC-led production curbs are starting to be felt in the world’s biggest oil-consuming nation.

TECHNICAL ANALYSIS FOR TODAY

COMPOSITE INDEX

JCI is predicted to move around 5,575 – 5,643 today’s.

BEARISH: Two long black candles created in the chart. There is possibility that another long black candle will created today to finish the three black crow pattern. With stochastic and MACD continue its down trend. We think the market will go bearish for today.

STOCKS RECOMENDATION

DGIK

We see the price manage to pass minor resistance at 114. MACD and Stochastic also show a strong buying activity in the market. Although volume still not rise significantly, we see that there is an early accumulation in the market.

Recommendation           : TRADING BUY

Entry Price                     : Below 124

Target Price                   : 150

Cut Off Price                  : 110

Support & Resistance     : 114 - 130

KBLI

The chart shows white closing marubozu with long body candle and high trading volume. This is a sign of buy side is now stirr the price. Stochastic has rebound from its bottom and the stock seem move out from its consolidation phase. But there is a resistance at 590 which need to be passed if the bullish trend willing to persist.

Recommendation           : TRADING BUY

Entry Price                     : Below 590

Target Price                   : 800

Cut Off Price                  : 490

Support & Resistance     : 435 - 590

* TRADING recommendations are made for short term from one day to one-week period, while BUY recommendations can up to 30 days’ period.

DISCLAIMER

This research report is prepared by PT MINNA PADI INVESTAMA Tbk. for information purposes only and is 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).

Disclaimer

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