Bumi Armada consolidated and tested the RM0.415 resistance level. With its RSI indicator in an uptrend, coupled with higher trading volume, we see a possibility for a technical breakout. If this happens, we expect it to move towards the short-term target prices of RM0.43 and RM0.445. The downside support is projected at RM0.385. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.415

Target: RM0.43, RM0.445 (time frame: 2-4 weeks)

Exit: RM0.385

Source: AmInvest Research - 5 May 2021