RHB Retail Research
Trading Stocks (mid-day) - Bumi Armada
At the time of writing, Bumi Armada was testing the MYR0.41 resistance level. A bullish bias may be present above this point, with a target price of MYR0.46, followed by MYR0.50. The stock may consolidate further if it cannot breach above the MYR0.41 threshold decisively in the near term. Support may be found at MYR0.365, where traders can exit upon a breach to minimise the downside risk.
Source: RHB Securities Research - 6 Feb 2020
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