Hibiscus Petroleum Bhd
is recovering from losses recorded earlier in the month as it attempts to return to a recent high of RM2.74.
There is growing momentum in the technical indices, including in the slow-stochastic, which is fast approaching the 50-point midline.
The daily moving average convergence/divergence (MACD) histogram is also on the verge of turning positive since turning negative at the end of February.Meanwhile, the 14-day relative strength index (RSI) is close to triggering a bullish signal as it approaches the 50-point level.
Support for the share is pegged to the recent low of RM2.46 and RM2.34.
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