RHB Retail Research
Trading Stocks - Hibiscus Petroleum
Hibiscus Petroleum may rebound towards the next resistance point, after bouncing off the support and breaking past the immediate resistance yesterday. If it manages to stay above the MYR0.63 resistance-turned-support level, the positive momentum may extend towards the next resistance set at MYR0.67, followed by MYR0.695. This expectation would be reversed if it falls below the MYR0.62 support.
Source: RHB Securities Research - 5 May 2021
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