Bumi Armada may decline further if it closes below the psychological RM4.00 level today. A position can be liquidated below RM4.00, with supports expected at the 5-month supports at RM3.85 and RM3.66. Failure to close below RM4.00 would suggest that buying may return, but this is only confirmed on a close above RM4.10. Strong resistance lies at the April high of RM4.50.
Source: OSK
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