Hibiscus Petroleum Berhad (5199) on 17.3.2019

Hibiscus dropped from RM1.35 to RM1.01 in October 2018 and it further dropped to RM0.80 in December 2018 during the drop of crude oil price to USD43. The blue circle show high volume trading and it could not drop further from the price of RM0.77. It starts to show sign of strength in the early 2019 and it has been consolidating between the trading range of RM1.01 to RM1.11. I reckon the price will go up by following the crude oil price direction.

Author: Gerald Koh