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WAITING FOR S&P REVIEW

MORNING DEW - 17 MAY 2017

Composite index drops 41.87 pts (-0.74%) and closed at 5,647 on Tuesday with total transaction was about IDR 6.7 Trillion. Foreign investor put back another money in the market as much as IDR 438 Billion despite the low performance on the index.

The market still waiting for S&P rating review as the agency is the only one still not upgraded the country to investment rating. The result will off course impact the market as it will boost not only local investor confidence but also foreign investor to come and put money in our market.

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

  • Bank Indonesia will release Interest Rate decision on Thursday.
  • The U.S. Energy Information Administration is projected to report that crude stockpiles declined by 2.67 million barrels in the week ended May 12, according to a Bloomberg survey of analysts.
  • Wednesday’s U.K. labor report may reveal pay rose 2.1 percent, down from 2.2 percent.
  • Oil lost 1.2 percent to $48.10 a barrel while Gold rose 0.4 percent to $1,242.20, extending four days of gains.

TECHNICAL ANALYSIS FOR TODAY

COMPOSITE INDEX

JCI is predicted to move around 5,605 – 5,674 today’s.

BULLISH: The price is testing the support level and managed to stay there. But as we see lower trading volume, we think that the selling power still not strong enough to bring the bearish trend in the market. we predict that rebound might be imminent.

STOCKS RECOMENDATION

ELSA

The price shown long white body and overcome previous candle. We also see that trading volume jumps. With the oil price continue its rebound, we predict that the price will folow the bullish trend.

Recommendation           : TRADING BUY

Entry Price                     : Below 345

Target Price                   : 400

Cut Off Price                  : 280

Support & Resistance     : 280 - 345

HMSP

We see inverted hammer followed by long white body, this could be a early sign on recovery. But as MACD still not closed and trading volume still not grow significant, the buying power still not as strong. We recommend to buy if the price managed to break resistance.

Recommendation           : TRADING BUY

Entry Price                     : Below 3900

Target Price                   : 4,110

Cut Off Price                  : 3,760

Support & Resistance     : 3,760 – 3,860

* 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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