RHB Investment Research Reports
Trading Stocks - Bumi Armada
rhbinvest
Publish date: Tue, 09 May 2023, 01:23 PM
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An official blog in I3investor to publish research reports provided by RHB Research team.
All materials published here are prepared by RHB Investment Bank Bhd. For latest offers on RHB Invest trading products and news, please refer to: http://www.rhbinvest.com
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All materials published here are prepared by RHB Investment Bank Bhd. For latest offers on RHB Invest trading products and news, please refer to: http://www.rhbinvest.com
RHB Investment Bank Bhd
Level 3A, Tower One, RHB Centre
Jalan Tun Razak
Kuala Lumpur
Malaysia
Tel : +(60) 3 9280 8888
Fax : +(60) 3 9200 2216
Bumi Armada is set to climb towards its recent high, as it has rebounded from the recent pullback and breached the immediate resistance of MYR0.67 yesterday. As the uptrend ramps up, the stock is likely to propel towards April's high of MYR0.72, followed by MYR0.80. However, falling below the MYR0.63 support would result in a “lower low” bearish pattern, and the stock price may trend downwards.
Source: RHB Securities Research - 9 May 2023
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