Bumi Armada is attempting a breakout from its sideway trading range. Note that it has been moving between the low of MYR0.245 and high of MYR0.275. During the latest session, trading volume rose, indicating a possibility of moving above the resistance soon. If this happens, it may test the higher resistance sighted at MYR0.29. Otherwise, it will continue moving sideways. A downside breach of the MYR0.245 support level will nullify this expectation.

Source: RHB Securities Research - 28 Sept 2020