Hibiscus Petroleum is rebounding further, having bounced off the 21-day average line while attempting to reach the immediate resistance of MYR0.92 on improved volume, and forming a “White Marubozu” candlestick. If it pushes above that level – forming a “higher high” bullish pattern – the momentum may propel the stock towards the recent high of MYR0.97, followed by the psychological level of MYR1.00. This expectation will be nullified if it falls below the support level of MYR0.86 – below the average line.

Source: RHB Securities Research - 9 Nov 2021