PublicInvest Research
Technical Buy: HIBISCS (5199)
PublicInvest
Publish date: Mon, 11 Feb 2019, 09:35 AM
PublicInvest
0 11,201
An official blog in I3investor to publish research reports provided by PublicInvest Research team.
All materials published here are prepared by Public Investment Bank Berhad. For latest offers on Public Invest trading products and news, please refer to: https://www.publicinvestbank.com.my/pbswecos/default.asp
PUBLIC INVESTMENT BANK BERHAD (20027-W)
9th Floor, Bangunan Public Bank
6, Jalan Sultan Sulaiman, 50000 Kuala Lumpur
T 603 2031 3011 | F 603 2272 3704 | Dealing Line 603 2260 6718
All materials published here are prepared by Public Investment Bank Berhad. For latest offers on Public Invest trading products and news, please refer to: https://www.publicinvestbank.com.my/pbswecos/default.asp
PUBLIC INVESTMENT BANK BERHAD (20027-W)
9th Floor, Bangunan Public Bank
6, Jalan Sultan Sulaiman, 50000 Kuala Lumpur
T 603 2031 3011 | F 603 2272 3704 | Dealing Line 603 2260 6718
- Target Price: RM1.05, RM1.10
- Last closing price: RM0.995
- Potential return: 5.5%, 10.5%
- Support: RM0.970
- Stop Loss: RM0.930
Possible for further upside. HIBISCS is well supported above short and medium term EMA, recovering from its congestion phase. Improving RSI and MACD indicators currently signal reasonable entry level, with anticipation of continuous improvement in both momentum and trend in near term. Should resistance level of RM1.05 be broken, it may continue to lift price higher to subsequent resistance level of RM1.10.
However, failure to hold on to support level of RM0.970 may indicate weakness in the share price and hence, a cut-loss signal.
Source: PublicInvest Research - 11 Feb 2019
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