Hibiscus Petroleum surged above its 20-day EMA with another white candle yesterday, which likely indicates the return of buying interest. As the stock also broke out of the 2-week bullish falling wedge pattern two candles back, it may see additional strength in the near term. A bullish bias may emerge above the RM1.17 level, with a stop-loss set at RM1.09, below the 50-day EMA. On the upside, the near-term resistance level is seen at RM1.30, followed by RM1.38.  

Entry : RM1.17–1.20

Target : RM1.30, 1.38

Exit : RM1.09

Source: AmInvest Research - 6 Apr 2022