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Hibiscus Petroleum jumped higher and may soon test the RM0.975 resistance level.. With a rising RSI, a bullish bias may be present above this mark with the target prices of RM1.02 and RM1.07. The immediate support is anticipated at RM0.925, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM0.975
Target: RM1.02, RM1.07 (time frame: 3-6 weeks)
Exit: RM0.925
Source: AmInvest Research - 3 Jan 2020


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