Indofood recomended to BUY

Recommended to BUY!!

Financial performance of PT Indofood Sukses Makmur Tbk (Indofood) during the year 2009 fairly satisfactory. Despite shrinking sales value of the company but it could encourage the growth of net income.

As of December 31, 2009 net sales of the issuer coded INDF evaporated to 4.3 per cent yoy Rp37.140, 83 billion from Rp38.799, 28 billion in the same period in 2008.

Only companies with core businesses largest instant noodle in Indonesia is able to suppress the main burden of Rp29.822, 36 billion to Rp27.018, so 88 billion gross profit rose to Rp10.121, 95 billion from Rp8.976, 92 billion.

Likewise with the thickening profit YEAR ON YEAR to 15.3 per cent Rp5.004, 21 billion from Rp4.341, 48 billion. Indofood is also able to suppress other burdens of Rp1.741, 65 billion to Rp940, 40 billion.

Positive performance and efficiency to sustain growth in consolidated net profit by 100.7 per cent yoy to Rp2.075, or 86 billion from Rp236 per share Rp1.034, Rp120 billion or 39 per share.

Technical Analysis

1.Candlesticks already broke strong resistance at 2674 point.

2.Candlestick move up at THE TOP BOLLINGER BAND.

3.MACD still show UP.

4.Momentum line go up slowly.

5.IHSG has good relative strength index. It line move above 50% and still go UP.

6. GOLDEN CROSS, That indicate BULL

INDF HAS GOOD FUNDAMENTAL N TECHNICAL, and now its time to buy that stock at price 3700-3800.