Very good O&G stock with strong banker chips well over 75% despite the dip. Now deep in oversold position. Am fishing around 0.43 - 0.435 and will add more it it drops further. There is no better time to buy on weakness.
I am waiting to add if it drops more but it rebound a little today, also good news to me. Price fluctuations either way presenting opportunities actually. Low price add more as this is a turn around counter , just be patient.
With strong support at 0.40 already stabilized, now next target resistance is 0.50. If crude oil price stabilized and go up slowly this week, shd be able to hit 0.50 week again. And soon 0.50 will become the next support hopefully by next week
Armada is not too sensitive to daily fluctuation of oil prices , its FPSO business is based on long term contract with customers. Medium term risks of sustained low oil prices would be more on its OMV division’s OSV charter business. Looking forward to next quarterly results .
... I remember reading your comment sometime last year where you said that Armada price will go up to RM0.50 ... more than that the operators will not allow :)
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
strattegist
23,459 posts
Posted by strattegist > 2021-03-19 17:33 | Report Abuse
closed red