MartinTFWong
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<TradeVSA> Weekly Breakout by Bumi Armada

MYX:ARMADA   BUMI ARMADA BERHAD
Based on weekly chart, we do spot a clear change of trend with high volume . High volume started to appear on end of November 2018. This shown activities by Smart Money as they started to do accumulation after the mark-down stage.

Another signal appeared in the chart at the end of April 2019 with bullish high volume . Again, this shown Smart Money are ready and trying to mark-up by testing the resistance. The latest weekly bar successful closed above all the Up-Thrust bar at resistance. Price likely to move and test the previous support around RM0.66. Take note if any Up-Thrust appear as price will have pullback soon.

Daily chart shows the similar trading setup with long period of accumulation after mark-down stage. In the daily chart , we do notice the shakeout on the weak hand holders towards the end of the mark-down stage. With the recent Line Change, the price managed to break higher than resistance and previous false breakout area.

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This information only serves as reference information and does not constitute a buy or sell call. Conduct your own research and assessment before deciding to buy or sell any stock
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