Rakuten Trade Research Reports
Technical View - Hibiscus Petroleum (HIBISCS, 5199)
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Publish date: Mon, 18 Feb 2019, 09:20 AM
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All materials published here are prepared by Rakuten Trade. For latest offers on Rakuten Trade products and news, please refer to: https://www.rakutentrade.my/
To sign up for an account: http://bit.ly/40BNqKI
Rakuten Trade
Hotline: +603 2110 7110 (Account Opening, General enquiry)
Email: customerservice@rakutentrade.my
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
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