RHB Retail Research
Trading Stocks - Bumi Armada
Bumi Armada may trend higher after it breached above the MYR0.355 threshold. This can be viewed as a continuation of the bulls extending the rebound from 3 Oct’s “Bullish Engulfing” pattern. A positive bias may emerge above the MYR0.355 level, with an exit set below the MYR0.30 threshold. Towards the upside, the immediate resistance is at the MYR0.41 level. This is followed by the MYR0.46 mark.
Source: RHB Securities Research - 10 Oct 2019
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