RHB Investment Research Reports
Trading Stocks - Hibiscus Petroleum
rhbinvest
Publish date: Tue, 06 Aug 2024, 09:38 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 may see a technical breakout, after hitting a multi-month low. The counter has been moving on “lower low” patterns since it fell below the 21-day SMA line. If it dips below the MYR2.10 support level, the counter may extend its correction towards the MYR2 level. On the upside, if the stock climbs above the MYR2.18 resistance, it could see a technical rebound towards the MYR2.30 resistance level.
Source: RHB Securities Research - 6 Aug 2024
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