Hibiscus Petroleum may rebound further, says RHB Retail Research

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KUALA LUMPUR (Sept 11): RHB Retail Research said Hibiscus Petroleum Bhd may rebound further after it tested the 89 sen support lately.

In a trading stocks note today, the research house said as the stock rose above the 21-day SMA line, this indicates a positive sign.

“A positive bias may emerge above the 95 sen level, with an exit set below the 89 sen threshold.

“Towards the upside, the immediate resistance is at the RM1.03 level. This is followed by the RM1.09 level,” it said.