Hibiscus Petroleum Bhd (5199)

• HIBISCS inched up 0.5 sen or 0.53% to RM0.95 yesterday.

• Share price managed to close with positive white candle yesterday following five consecutive losses in the previous sessions which could see an upturn with selling pressure dissipating. Furthermore, key momentum indicator MACD is also flashing positive sign.

• Should the buying interest be sustained, resistance levels are expected at RM1.00 (R1) and next to RM1.05 (R2).

• On the contrary, support levels are identified at RM0.93 (S1) and RM0.89 (S2).

Source: Rakuten Research - 26 Sept 2019