KUALA LUMPUR (June 15): RHB Retail Research said Bumi Armada Bhd is staging a strong uptrend after breaching the resistance level on improved volume yesterday.

In a trading stocks note today, the research house said that premised with a “higher low” pattern formed above the 21-day SMA line, the renewed bullish momentum above 48.5 sen (resistance turned-support) level would propel the stock towards the next resistance of 54 sen, followed by the 60 sen multi-year high.

“This expectation will be void if it drops below the 45.5 sen support level,” it said.