RHB Retail Research Reports That Hibiscus Is Resuming Its Strong Upward Trend

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According to RHB Retail Research, Hibiscus Petroleum Bhd has resumed its strong rise after rebounding from a recent retreat and breaking above the recent high of 80.5 sen on significant trading volume.

The research house said in a trade stocks report today that bullish momentum over that level might take the stock to the 91.5 sen resistance, followed by RM1.06 – the multi-month high.

“Meanwhile, the stock may continue to decline if it breaks below the 75 sen support, forming a bearish “lower low” pattern,” it added.

Published by Zack Baharum

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