Weakness in the chart:
1. AirAsia X
a. Failed breakout
b. Broke below support
2. Bumi Armada
a. Forming accumulation
b. Weakness after Up-Thrust at resistance
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Despite the weak financial position and poor financial performance, Armada still has a decent chance of pulling through in view of its strong management. This is helped by signs of recovery in the oilfield services sector- despite recent weakness in crude oil prices. Due to the sharp drop in share price, Armada could be a good stock to a recovery play. However,...
Laburlah Technical Coverage (17-APR, Tuesday):
Technical Analysis Breakdown
1. Trend: Still bull
2. RSI & Stochastic: Retracing
3. Immediate support: Upper BB
4. Support level: 0.90
5. Catalyst: Bullish crude oil price
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