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UNCHANGING BI RATE

UNCHANGING BI RATE

Composite index able to rebound from its slump on Thursday. The index gains 29.96 pts (+0.53%) and closed at 5,645.45 despite opened on lower. The index spiking back after previously leaving 5,600 level. Total transaction was counted at IDR 7.5 Trillion and foreign booked a net buy as much as IDR 393.74 Billion.

After having a fluctuation on Thursday due to decline in global market. we predict that composite index will be more soft today. As we are at the end of the week, we predict the activity will lower for today. further more Bank Indonesia decided to keep the interest rate on 4.75% was expected by analyst. Thus there is no change in our view to macro economy.

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

  • U.S. crude CLc1 rose 0.2 percent to $49.46 a barrel, and was poised to end the week 3.4 percent higher.
  • Asian stocks were mixed after U.S. stocks rebounded with the dollar. Caution remained in financial markets as a government crisis in Brazil raised the specter of emerging-market risk.
  • United States Initial Jobless Claims decreased by 4 thousand to 232 thousand.

TECHNICAL ANALYSIS FOR TODAY

COMPOSITE INDEX

JCI is predicted to move around 5,605 – 5,675 today’s.

BULLISH: White opening marubozu created on the market. We see that the body of the candle was more that a half of previous black candle. This means that the market didn’t finish the three white soldier pattern and rebound back to eliminate previous loss. We predict that today the index will continue yesterday trend.

STOCKS RECOMENDATION

DOID

The price is rebound after a bearish trend. We see that stochastic also has been on oversell area for sometime and this could signal that buying side is active in the market.

Recommendation           : TRADING BUY

Entry Price                     : Below 920

Target Price                   : 985

Cut Off Price                  : 830

Support & Resistance     : 775 – 990

SRIL

The price is able to stay above support level and we see the atempt to bring the price up despite the low trading volume.

Recommendation           : TRADING BUY

Entry Price                     : Below 330

Target Price                   : 380

Cut Off Price                  : 310

Support & Resistance     : 310 - 350

* 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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