Bumi Armada inched above the RM0.575 level in its latest session. With a moderate RSI level, it may move higher above this mark with a target price of RM0.62, followed by RM0.71. Meanwhile, it may drift sideways if it falls back below the RM0.575 mark in the near term. In this case, support is anticipated at RM0.525, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on further rebound above RM0.575

Target: RM0.62, RM0.71 (time frame: 3-6 weeks)

Exit: RM0.525

Source: AmInvest Research - 3 Oct 2018