Bumi Armada Bhd (5210) 

• ARMADA declined by 1 sen or 5.1% to RM0.185 yesterday.
• After reaching a high of RM0.25 recently, ARMADA has since plunged 40% to a low of RM0.15 before recovering to current level. Following the news on potential loan deals for debt restructuring, we believe the selling would ease, hence some price recovery from current level.
• Should it able to break past RM0.20, resistance levels are expected at RM0.210 (R1) and further to RM0.245 (R2)
• Meanwhile, support levels are found at RM0.165 (S1) and RM0.160 (S2). 

Source: Rakuten Research - 27 Mar 2019