Sep 14, 2015

Bumi Armada May Rebound Further

Bumi Armada Bhd   Stock Code 5210

The Group is principally involved in the provision of marine transportation and support services engineering and maintenance services for companies operation in the oil and gas industry and related petrochemical sectors.

bumi armada analysisBumi  Armada  may  rebound  further  after  surging  above  the MYR0.88  level.  Traders may  buy as  a  short-term  bullish  bias could be  present  above  this  level,  with  a  target  price  of  MYR1.05.  The stock  may  drift  sideways  if  it  cannot  sustain  above  the  MYR0.88mark. In this case, further support is anticipated at MYR0.79, where traders can exit upon a breach.

by RHB Research