HAIDOJO_trading

8) hibiscus - top 20 jewel series of malaysia stocks

MYX:HIBISCS   HIBISCUS PETROLEUM BHD
top 20 jewels frm a very popular local bank...

technical : let's look at some price action...

after a huge "head-and-shoulder" pattern, hibiscs has been tru a gap down in mid-March, and a slow, rebound has occurred...
recent move, hibiscs is in asymmetrical triangle pattern , breaking to the upside is RM0.71-0.76 resistance while to the downside, is the RM0.55 support level ...
current support : RM0.55
lower support : RM0.40-0.25
resistance : RM0.71-0.76

Overall, hibiscus is still in consolidation phase, breakout to either side shall signal us a buy or a sell...
WARNING : this is juz a trading idea...trade at your own risk!


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this is trade 88)


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