Hibiscus Petroleum Bhd (HIBISCS,5199) 

• HIBISCS gained 1 sen or 0.94% to close at RM 1.07 last Friday.
• Share price of HIBISCUS has fallen in tandem with the current weakness in oil price after peaking in October 2018 and is currently hovering at its support levels.
• Recent plunge in crude oil prices has prompted Saudi Arabia led OPEC to propose cuts in oil production next month which should spur recovery in oil prices.
• With its fundamentals still intact, the price fall represent opportunity to accumulate the shares.
• Meanwhile, immediate resistance is at RM1.18 (R1) and support levels can be found at RM0.985 (S1). 

Source: Rakuten Research - 19 Nov 2018