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Thread: Market outlook

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    Market outlook

    Friday, May 30, 2008

    Indonesia shares may continue to trade within a consolidation range but may remain in positive territory, supported by a MILD rally on Wall Street due to falling oil prices and better reading of first quarter GDP.
    For Indonesia, we are still waiting for the inflation reading in May and the meeting of central bank's board
    of governor early June to determine the hike of its key interest rate. Some say that students demonstrations may continue to intensify and may potentially result in an orchestrated-chaos.
    The main index may go up and down by 41 points, but may see a clearer sign of a fine stronghold if it
    closes above 2450-pivot point. Main index : 2402-2476 S2: 2393 R2: 2501

    TLKM: 7,800-8,100. Its ADRs in NY ended up 0.6% to $34.65, or equal with IDR8,063, based on USD/IDR of
    IDR9,308. It looks that building volume will continue, with tough support of 7,800 unlikely broken.

    MEDC: 4,900-5,500. It is now trading at above 13-week average,signal ling share price to continue to
    maintain its upward trend despite imminent profit taking at IDR5,300. The stake sale of Apexindo may
    become a turning point for medco to focus on oil and gas business, while also looking at possibility to
    enter coal and bio-fuel businesses.

    ANTM: 3,200-3,500. Selling pressure should ease and may help the price to find good support at IDR3,200. I
    heard that Antam and its Chinese partner will increase bid for Herald to match recent Bumi's bid of A$2.55
    per share.

    ASII: 20,650-21,500. May car sales likely rose 9% on month and still doubled from a year earlier. A local
    big fund will continue to collect these shares at any level below IDR21,000.

    BMRI: 2,750-3,100. On chart reading. BMRI may continue its upward momentum and may test its first
    immediate resistance of IDR3,100. 12-month target remains at IDR4,200. BUY on weakness or at any level
    below IDR2,800. The bank will give IDR189 per share dividend, or 90% of its 2007 net profit. It is a good
    number and better than PTBA's dividend payment

    TINS: 34,500-36,800. It may be stuck within this band and may be suffering from a mild correction if
    it fails to break above IDR36,400 resistance. 12-Month target remains at IDR40K-44K.

    BUMI: 7,800-8,600. It may be trading wide, with mild buying interest likely continuing the share price to
    test IDR8,550 immediate resistance.

    UNSP: 1,960-2,200. If breaks above IDR2,060-immediate resistance it may go ahead to maintain the bullish
    momentum to test its first target of IDR2,100.Overall, fundamentals remain solid with rising prices of rubber contributed almost 22% to its total revenue. BUY on weakness. 12-month target is at IDR2,800

    BBRI: 5,800-6,400
    TBLA: 740-810
    BNGA: 800-1,020
    JPRS: 420-550
    LTLS: 1,100-1,360
    ENRG: 1,110-1,300
    ETWA: 300-520
    CTRA: 480-580

  2. #2
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    Re: Market outlook

    keep sharing bro

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