RHB Investment Research Reports
Trading Stocks - Hibiscus Petroleum
rhbinvest
Publish date: Mon, 09 May 2022, 08:33 AM
rhbinvest
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An official blog in I3investor to publish research reports provided by RHB Research team.
All materials published here are prepared by RHB Investment Bank Bhd. For latest offers on RHB Invest trading products and news, please refer to: http://www.rhbinvest.com
RHB Investment Bank Bhd
Level 3A, Tower One, RHB Centre
Jalan Tun Razak
Kuala Lumpur
Malaysia
Tel : +(60) 3 9280 8888
Fax : +(60) 3 9200 2216
All materials published here are prepared by RHB Investment Bank Bhd. For latest offers on RHB Invest trading products and news, please refer to: http://www.rhbinvest.com
RHB Investment Bank Bhd
Level 3A, Tower One, RHB Centre
Jalan Tun Razak
Kuala Lumpur
Malaysia
Tel : +(60) 3 9280 8888
Fax : +(60) 3 9200 2216
Hibiscus Petroleum broke past the MYR1.38 resistance on high trading volume. The forming of two consecutive “Bullish Marubozu” candlesticks indicate that strong buying interest is underway. If the stock sustains above the immediate resistance, the bullish momentum should propel it towards the next resistance pegged at MYR1.50, followed by MYR1.65. However, the momentum may decelerate if it falls below the MYR1.29 support.
Source: RHB Securities Research - 9 May 2022
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