ARMADA – MYR3.89 (Stock Code: 5210) (Bloomberg Code BAB MK Equity)
below: ARMADA daily chart (click to enlarge)
ARMADA made a daily Wave 5 low of MYR3.60 (11 Sep 2012) with grossly oversold and bullish divergent signals. All its chart indicators suggest a very firm upside move. It is likely break into higher territory, as it breached its key resistances areas recently.
SHORT-TERM BUY (TECHNICAL) on dips for ARMADA, with firmer support areas at MYR3.61 and MYR3.89. The upside target areas for the stock are at MYR4.06 and MYR4.34, with stop-loss at MYR3.59.
Bumi Armada Berhad (ARMADA) is an international offshore services provider to the oil and gas industry in Malaysia and other countries in Asia. It owns and operates offshore support vessels to provide support for exploration, development and production activities in the offshore O&G industry