Rakuten Trade Research Reports

Technical View - Bumi Armada Bhd (ARMADA, 5210)

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Publish date: Mon, 23 Dec 2019, 09:29 AM
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Bumi Armada Bhd (5210)

• ARMADA gained 7.7% or 3.5 sen to RM0.49 last Friday.

• Last Friday’s rebound with a positive candle following recent pull back suggesting renewed buying interest on the stock. Should the buying momentum be sustained, share price is expected to challenge the RM0.55 resistance level.

• Key resistance levels are seen at RM0.50 (R1) and further to its 52-week high of RM0.55 (R2).

• Conversely, support levels can be seen at RM0.45 (S1) and RM0.39 (S2).

Source: Rakuten Research - 23 Dec 2019

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