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Target Price: RM1.65, RM1.71
Last closing price: RM1.55
Potential return: 6.4%, 10.3%
Support: RM1.50
Stop Loss: RM1.40
Possible for trend reversal. HIBISCS appears poised for another breakaway from its downtrend, with continued improvement in both momentum and trend anticipated in the near term. Should immediate resistance level of RM1.65 be broken with renewed buying interest, it may continue to lift price higher to subsequent resistance level of RM1.71. However, failure to hold on to support level of RM1.50 may indicate weakness in the share price and hence, a cut-loss signal.
