KUALA LUMPUR (Jan 26): RHB Retail Research said Bumi Armada Bhd is in the process of rebounding higher following the recent pullback — displaying an intraday rebound above the 21-day average line on Tuesday (Jan 25).

In a trading stocks note on Wednesday, the research house said the bullish bias may re-emerge if it crosses above the 54 sen immediate resistance level in the coming sessions.

“If that happens, the bulls may push the stock towards the multi-year high of 60 sen, followed by 75 sen.

“Conversely, falling below the 50 sen support would trigger selling pressure and reverse the momentum, thereby sparking a downtrend,” it said.