Hibiscus Petroleum may rise higher after it gapped up and posted another white candle yesterday. Given that this candle has broken out from a 2-week bullish rectangle pattern, the resumption of its previous uptrend may be taking place now. A bullish bias may emerge above the RM1.05 level, with stop-loss set at RM0.99, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM1.17, followed by RM1.30.\

Entry : RM1.05–1.10

Target : RM1.17, RM1.30

Exit : RM0.99

Source: AmInvest Research - 14 Sept 2023