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Hibiscus Petroleum Bhd.Hibiscus Petroleum Bhd.Hibiscus Petroleum Bhd.

Hibiscus Petroleum Bhd.

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Trade ideas

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.
MYX:HIBISCSShort
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.
MYX:HIBISCSLong
by ringgitlab