Hibiscus Petroleum BhdHibiscus Petroleum Bhd (HIBISCS, 5199)

• HIBISCS closed 1.5% higher at RM0.665 on Tuesday.
• There is a formation of morning star from 9 Sept to 13 Sept. HIBISCS also managed to stay above all its key moving averages.
• Buying momentum is set to resume along with upticks in indicators, hence HIBISCS is poised to move higher.
• Resistance levels are identified at RM0.680 (R1) and RM0.710 (R2).
• On the flipside, support levels are pegged at RM0.660 (S1) and RM0.650 (S2).

Source: Rakuten Research - 15 Sept 2021