Hibiscus Petroleum is eyeing to stage a bullish breakout, testing the immediate resistance with a bullish candlestick. The counter has been consolidating sideways below the MYR2.05 resistance. It has climbed above the 21-day SMA line, which shows a bullish momentum is gaining traction. If it breaks past the immediate resistance, the stock may continue to move upwards to test the MYR2.15 level, followed by the MYR2.30 mark. On the flipside, if it breaches the MYR1.93 support, this will resume the correction phase.

Source: RHB Securities Research - 14 Jan 2025