Bumi Armada is set for an uptrend reversal as it bounced off from the recent breakout level of MYR0.435 on high trading volume – forming a “higher low” structure above the 21-day SMA line. If it manages to stay above that level, expect the uptrend to resume and pick up towards the next resistance of MYR0.48, followed by MYR0.505 – its multi-week high. Conversely, breaching below the MYR0.42 support – below the average line – will cancel this expectation.

Source: RHB Securities Research - 13 Sept 2021