Hibiscus set for uptrend rebound, says RHB Retail Research

TheEdge Wed, Feb 21, 2024 08:01am - 1 month View Original


KUALA LUMPUR (Feb 21): RHB Retail Research said Hibiscus Petroleum Bhd is set for an uptrend rebound after it breached the RM2.60 immediate resistance with surging trading volume.

In a trading stocks note on Wednesday, the research house said that the bullish bias above that level may see the stock trending upwards towards the recent high of RM2.74, followed by RM2.94, the 52-week high.

“However, if the price falls below the RM2.52 support, it would signal the reversal of the trend,” it said.

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