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 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
