According to RHB Retail Research, Hibiscus Is Projected to Continue Its Recent Resurgence

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According to RHB Retail Research, Hibiscus Petroleum Bhd is projected to extend its recent rally after breaking through the 68.5 sen immediate resistance level yesterday on strong trading volume.

The research house stated in a trading stocks note today that if a breakout occurs above that level, the bulls may resume and accelerate towards the next resistance level of 73 sen, before reaching the 52-week high of 78.5 sen.

“However, a break below the 65.5 sen support level may initiate a downtrend,” the report stated.

Published by Zack Baharum

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