Oil & Gas Bumi Armada Bhd.MYX:ARMADAamirulshahBumi Armada Berhad (ARMADA) Sector View: FPSO player → benefits from sustained offshore capex recovery. Fundamental: Revenue linked to long-term FPSO contracts (defensive vs pure drilling). Leverage remains key monitoring variable. Cash flow stability improving if oil stays above USD 70–80. Technical: Typically trades in cyclical waves aligned with oil price. Watch breakout above previous swing high for continuation. Catalysts: New FPSO contract wins Debt restructuring improvement Oil price spike Risk: Oil crash Contract non-renewal Bias: Accumulation → breakout candidate Entry Plan: Accumulate near support range Add on breakout confirmation Stop: 5–8% below support Target: Range top Extension: 20% if oil rally continues Risk: 7/10