KUALA LUMPUR (April 13): RHB Retail Research said Bumi Armada Bhd is poised to move past the sideways consolidation phase of 43 sen as it bounced off the 21-day average line and closed at the immediate resistance level on Tuesday on strong volume.

In a trading stocks note on Wednesday (April 13), the research house said if the stock surpasses the consolidation phase in the coming sessions, the bulls are expected to drive the stock towards the 51 sen resistance, followed by 55.5 sen.

“However, the momentum may decline if it falls below the 40.5 sen support, which is below the average line,” it said.