RHB Investment Research Reports

Trading Stocks - Hibiscus Petroleum

Publish date: Mon, 15 Apr 2024, 11:08 AM
0 3,691
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

Tel : +(60) 3 9280 8888
Fax : +(60) 3 9200 2216

Hibiscus Petroleum is eyeing to extend its upside movement after staging a bullish breakout. The stock has climbed above the MYR2.74 resistance to form a fresh “higher high” bullish candlestick. We observe trading volume has been increasing, this shows that the bullish momentum is accelerating. Expect this momentum to propel the stock towards the next resistance at MYR2.94, followed by MYR3.25. On the flipside, falling below the MYR2.60 support will negate the bullish setup.

Source: RHB Securities Research - 15 Apr 2024

Related Stocks
Be the first to like this. Showing 0 of 0 comments

Post a Comment