Good bargain hunting. Today high selling pressure push down the share price closed at Rp1750. CIMB Niaga just has the right issue ex-date on 29-12-2010 @ 1:20 share, price Rp1250.
The recent share price run up could be due to right issue exercise. Based on the chart, I would think that the share price between Rp1600 - Rp1900 could be a very good entry point and at reasonable PER of 15 +/- ( based on EPS Rp112 FY2011 ).
Accumulate when the price is reasonable and wait for share price to go up when CIMB Niaga announce better result in its next financial results. Good Luck!
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