HIBISCUS Petroleum Bhd is holding on firm above the short-term ascending trend line despite falling in danger of being trapped in consolidation mode.

However, Monday’s bullish performance saw it return above the support as well as the short-term 14- and 21- day simple moving averages (SMA) on improving positive momentum.

Given the upswing in positive momentum, there is a chance the counter is headed for a break out of the sideways channel to resume share price growth.

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