AmInvest Research Reports
Stocks on Radar- Hibiscus Petroleum (5199)
AmInvest
Publish date: Wed, 03 Jun 2020, 08:39 AM
AmInvest
0 9,386
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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 above the resistance level RM0.66 with higher trading volume. With the RSI indicator pointing upwards, we believe the uptrend momentum has resumed and it will move towards the short-term target price of RM0.735 followed by RM0.765. The downside support is anticipated at RM0.61, whereby traders may exit on a breach to avoid the risk of a further correction
Trading Call: Buy on breakout RM0.66
Target: RM0.735, RM0.765 (time frame: 2-4 weeks)
Exit: RM0.61
Source: AmInvest Research - 3 Jun 2020
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