Technical Buy: HIBISCS (5199)

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• Target Price: RM0.370, RM0.410
• Last closing price: RM0.340
• Potential return: 8.8%, 20.5%
• Support: RM0.315
• Stop Loss: RM0.290

Possible for further recovery. HIBISCS is staging a potential recovery from its consolidation phase. Improving RSI and MACD indicators currently signal reasonable entry level, with anticipation of continuous improvement in both momentum and trend in the near term. Should resistance level of RM0.370 be broken with renewed buying interest, it may continue to lift price higher to subsequent resistance level of RM0.410.
However, failure to hold on to support level of RM0.315 may indicate weakness in the share price and hence, a cut-loss signal.

Source: PublicInvest Research - 1 Apr 2020

https://klse.i3investor.com/blogs/PublicInvest/2020-04-01-story-h1485733705-Technical_Buy_HIBISCS_5199.jsp