Bumi Armada

Sector: Energy

The price movement of Bumi Armada is aligned with Brent Crude oil Price which is on an uptrend since Nov 2020. Bumi Armada share price has retraced from its peak (RM0.505 – Highest within 52 weeks) recently and trading above RM0.44 which is the immediate support. RM 0.49 will be the immediate resistance for Bumi Armada share price. Formation of higher highs and higher lows have provided the indication that the uptrend rally is still valid. 

Reason to Monitor: Brent Crude Oil Price remains in uptrend rally.

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