Bumi Armada continued rising and touched the RM0.46 resistance level. With its RSI indicator pointing upwards, coupled with a higher high candle stick pattern, there is a good chance that it would experience a technical breakout and head towards the short-term target price of RM0.475, followed by RM0.49. The downside support is marked at RM0.43. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.46

Target: RM0.475, RM0.49 (time frame: 2-4 weeks)

Exit: RM0.43

Source: AmInvest Research - 2 Jul 2021