Hibiscus Petroleum is in the process of completing its minor sideways consolidation process after it formed a double bottom base yesterday. A bullish bias would be established if it manages to break above the MYR0.67 resistance level. If a breakout happens, it may move out from the consolidation zone and rise to the next resistance marked at MYR0.70, followed by MYR0.735. A downside breach of MYR0.635 would negate this trading bias.

Source: RHB Securities Research - 5 Apr 2021