![](/pub/blog/bl24/bumi_20211008101330.png)
Bumi Armada Bhd (ARMADA, 5210)
- Following the 3.2% surge in brent crude oil prices yesterday, ARMADA closed 2.2% higher at RM0.460 yesterday.
- ARMADA closed at the neckline of its cup and handle pattern. Currently, ARMADA is trading above all its key moving averages.
- Backed by upticks in both indicators, ARMADA is poised to move higher.
- Resistance levels are identified at RM0.500 (R1) and RM0.525 (R2).
- On the flipside, support levels are pegged at RM0.440 (S1) and RM0.415 (S2).
![](/pub/blog/bl24/bumiii_20211008101336.png)
Source: Rakuten Research - 5 Oct 2021