Hibiscus Petroleum surged and touched the RM0.68 resistance level with higher trading volume. With its RSI indicator pointing upwards, coupled with a higher high candle stick pattern, there is a good chance that it would experience a technical breakout and head towards the short-term target price of RM0.71, followed by RM0.725. The downside support is marked at RM0.645. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy near RM0.68

Target: RM0.71, RM0.725 (time frame: 2-4 weeks)

Exit: RM0.645

Source: AmInvest Research - 11 May 2021