AmInvest Research Reports
Stocks on Radar - Hibiscus Petroleum (5199)
AmInvest
Publish date: Fri, 03 Jan 2020, 09:43 AM
AmInvest
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All materials published here are prepared by AmInvest. For latest offers on AmInvest trading products and news, please refer to: https://www.aminvest.com/eng/Pages/home.aspx
Tel: +603 2036 1800 / +603 2032 2888
Fax: +603 2031 5210
Email: enquiries@aminvest.com
Office Hours
Monday to Thursday: 8:45am – 5:45pm
Friday: 8:45am – 5:00pm
(GMT +08:00 Malaysia)
Hibiscus Petroleum jumped higher and may soon test the RM0.975 resistance level.. With a rising RSI, a bullish bias may be present above this mark with the target prices of RM1.02 and RM1.07. The immediate support is anticipated at RM0.925, whereby traders may exit on a breach to avoid the risk of a further correction.
Trading Call: Buy upon breakout above RM0.975
Target: RM1.02, RM1.07 (time frame: 3-6 weeks)
Exit: RM0.925
Source: AmInvest Research - 3 Jan 2020
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