Nott Invest

BUMI ARMADA - Potential Resistance Breakout

Publish date: Mon, 24 Jan 2022, 10:19 PM
Nott Invest Analyses


Sector: Energy (Energy Infrastructure, Equipment & Services)

Analysed on 23/01/2022


BUMI ARMADA traded at RM 0.52 on last Friday with immediate resistance and support at RM 0.545 and RM 0.51 respectively. EMA 25 stayed above EMA 50 and both are trending upward. Recently, BUMI ARMADA tested its resistance but failed to stay above its resistance at RM 0.545. Investors shall monitor closely on the movement of oil price as weakness in oil price will hurt share price performance. Considering current price level, it is 4.8% gain and 1.9% loss to hit resistance at RM0.545 and support at RM0.51 respectively.


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