Bumi Armada is attempting for a technical rebound it bounced off the immediate support, testing the immediate resistance at MYR0.55. If it manages to surpass that level, the stock may rebound higher towards the MYR0.585 resistance (highest level since 29 Sep 2023), followed by the next resistance at MYR0.63. If the price falls below the MYR0.525 support, it would signalthe beginning of a correction.
Source: RHB Securities Research - 14 Feb 2024
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Created by rhbinvest | Aug 23, 2024