Bumi Armada may trend higher after it formed a long white candle and breached above the MYR0.50 mark. With the 21- day SMA line edging upwards, this implies a positive outlook. A positive bias may emerge above the MYR0.50 level, with an exit set below the MYR0.465 threshold. Towards the upside, the immediate resistance is at the MYR0.60 mark. This is followed by the MYR0.67 level.
Source: RHB Securities Research - 18 Nov 2019
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ARMADACreated by rhboskres | Aug 26, 2024