Hibiscus Petroleum is set to climb higher, as it experienced a strong rebound towards the 21-day average line yesterday. If it manages to sustain above the MYR1.10 immeidate support, the bullsh momentum may continue and breach the average line, hitting the next resistance at MYR1.24, and then MYR1.38. Conversely, falling below the MYR1.01 support should trigger selling pressure thereby forming a “lower low” bearish pattern.

Source: RHB Securities Research - 22 Mar 2022