Hibiscus Petroleum Bhd (5199) 

• HIBSCS edged up 1 sen, 0.9% to close at RM1.07 last Friday.
• Since our technical buy recommendation on 14 Jan 2019, share price has risen by 12.6%. We believe buying momentum is likelyto continue as evidenced by the bullish bias on the back of higher trading volume, further buoyed by Crude Oil Price hitting 2019 high at USD65/barrel.
• Resistance levels are expected at RM 1.12 (R1) and further to RM 1.18 (R2).
• Meanwhile, support levels can be found at RM0.935 (S1) and RM0.915 (S2).

Source: Rakuten Research - 18 Feb 2019