Bumi Armada may trend higher after it surged to a 9-month high and closed above the key RM0.465 resistance (the Jun high)
a week ago. With the 20-day EMA remaining above the 50-day EMA since the bullish crossover in early November, the uptrend
may continue in the near term. A bullish bias may emerge above the RM0.465 level, with a stop-loss set at RM0.42, below the
50-day EMA. Towards the upside, the near-term resistance level is seen at RM0.51, followed by RM0.55.

Entry : RM0.465–0.475

Target : RM0.51, RM0.55

Exit : RM0.42

Source: AmInvest Research - 12 Dec 2022