BUMI Armada set a new all-time low of 76.5 sen on Aug 25 before turning range-bound on bargain hunting activity offsetting selling, undergoing consolidation or attempting to build a concrete base for recovery. Apparently, indicators are painting a mixed pictogram, implying this stock is likely to be trapped within a moderate band until a clearer picture emerges. A breach of the 21-day simple moving average of 92 sen may propel prices up to the RM1-RM1.03 area.
Already a subscriber? Log in
The Star Festive Promo: Get 35% OFF Digital Access
Cancel anytime. Ad-free. Unlimited access with perks.
