RHB Investment Research Reports
Trading Stocks - Hibiscus Petroleum
rhbinvest
Publish date: Wed, 04 Dec 2024, 12:07 PM
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 is attempting to extend the upside movement after climbing above the 21-day SMA line. The counter has charted a fresh white candlestick and closed above the MYR2.05 resistance, showing the bullish technical setup is in play. After the breakout, expect a follow-through price action to test MYR2.20, followed by the MYR2.40 level. On the downside, falling below the MYR1.93 support will negate the bullish setup.
Source: RHB Securities Research - 4 Dec 2024
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