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HIBISCUS PETROLEUM BHDHH

HIBISCUS PETROLEUM BHD

1.48MYRD
−0.03−1.99%
As of today at 03:08 GMT
MYR
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HIBISCS trade ideas

HIBISCUSHibiscus Petroleum Bhd: Riding on higher crude oil prices Technical View (i) HIBISCS (S: RM0.625, R: RM0.68-0.705, LT TP: RM0.73, CL: RM0.62) Trading Catalyst • Malaysia’s first public listed independent oil and gas exploration and production firm, focusing on the development and production of oilfield assets in United Kingdom, Malaysia and Australia. • Proposed acquisition of Repsol Exploración SA assets which has approximately 2.0% of global net crude oil output for USD212.5m cash will HIBISCS double daily production to 18,500 bdp. • Riding on recovery in crude oil prices amid improved demand, supply disruptions and escalating geopolitical tension in the Middle East. • Technically, price has formed a flag-formation breakout above RM0.655 level, targeting the next resistances at RM0.68-0.705 with long term target set at RM0.73. Source: Bloomberg, M+ Online
M
by ZulfadhliMFF
HIBISCS - Faces resistance aheadComment for weekly chart: 1) TrendX+ indicator - candlestick still swing below trendline, however mid-term trendline has turned green, but it depends on weekly close as it could turn red again 2) DDX+ indicator - the share price moves up in the past few weeks is considered an oversold rebound. Monitor if DDX+ candlestick can breakout red trend cross resistance 3) MCDX+ indicator - banker bar (red) getting stronger when HIBISCS breakout resistance B with high volume showing a strong trend over there, while majority of retailer bar (turquoise) still taking control 4) Lookout for resistance at Neckline A, if HIBISCS fall below Neckline A after a false breakout pattern formed, the TP is 0.605 in the downtrend. Support & Resistance: R : Neckline A S : Point (d) 0.605 DISCLAIMER : Analysis above SOLELY for case study purpose, not a PROFESSIONAL ADVISE. This analysis does not provide any trading advise and buy or sell. Trade at your own risk. Trade only after you have acknowledged and accepted the risks involved.
MShort
by TheWinningDay
HIBISCS - Breakout downtrend channel. Potential reversal?Price is currently at demand area as the priced might forming strong support around RM0.805 - RM 0.83. The price has broke out the downtrend channel on 26/07/2022. Could HIBISCS starts to reverse for uptrend? Potential entry: 1) RM0.805 - RM0.83 2) RM0.72 - RM0.74 (Best entry for long-term) Resistance: RM0.905 / RM1.03 Support: RM0.805 / RM0.72 Disclaimer: This trading idea is for education purpose only. This is not a buy call nor a stock recommendation. Please trade at your own responsibility.
MLong
by ringgitlab