HIBISCS - Volume Profile Analysis (Worth To Monitor)HIBISCS seems like rebounded @ 0.630 (52 weeks point of control as support after been tested thrice BUT with lower than average volume - at the time this idea is posted)
It's worth to monitor the price volume action near this level to determine whether the rebound will be supported with higher than average volume and sustainable
Disclaimer:
This is intended to be used and must be used for technical analysis education purposes only. Trade at your own risk.
HIBISCS trade ideas
HIBISCUS: walking slowly above 20mathe price is seen slowly walking on 20ma line, and the RSI is also above the mid level, looking at this stock price movement, there is a possibility that price is moving sideways and potentially break higher starting 1st week of June. At near 0.65 would be a good level to accumulate this stock and if it break above 0.70 in June, it could trend higher.
HIBISCUS PETROLEUM BHD 11/4/21HBCS TARGET LONG ENTRY :
Technical Bias :
1) Channel trend is bull
2) New High formed at TF D1
3) ABC wave is formed @ LAST SUPPORT
4) 3mountain reversal pattern appear at targeted reversal price
Fundi Bias :
1) Sentiment Covid-19 vaccine distribution might boost economy
2) A good economy required a good and stable oil price
3) 1.270-1.370 is a stable oil price for active economy
Money Management Bias :
1)P/L ratio 1:5
2) Stop Loss / Exit price if price break below 0.635 + Formation Of Candle W1
Psychology Bias :
1) Trade Tf D1 + W1
2) Trade period 1week to 1month
P/S :
1)never place all money in 1basket
Hibiscus - Bullish Uptrend
Technical Analysis
Price test and retrace from support at .645 ,and rising up along the uptrend channel to test previous resistance at .73.
short term EMA and long term MA form very bullish upward pattern coupled with rising momentum.
Next resistance
R1 - .73
R2 - .81
R3 - .875
Fundamental Analysis
World economy is on recovery mode with vaccine roll out across the world with decreasing rate of infection. Recovery sentiment augur well for oil futures , this stock will benefit from rising oil price with demand rising across all economy sectors.
Pergerakan Kaunter OnGBerdasarkan chart , pergerakan chart telah membentuk satu pattern cup dalam satu tempoh yang lama . Hibiscus sangat berpaut pada harga Brent crude oil dimana sedang dalam fasa uptrend . Chart juga dilihat dalam satu proses consolidation yang lama . Boleh diperhatikan kerana di kala ini ekonomi dunia dalam proses recovery . Target price adalah 0.86 yang merupakan support lama Hibiscus.
INI Hanyalah Pandangan Bukan BUY Or SELL Signal .