Friday, December 06, 2013
Hibiscus may have a bullish breakout
Hibiscus has just broken above its 'horizontal' line at RM2.14-2.15. At the same time, Hibiscus-WA broke above to the upside of its triangle at RM1.57. With these twin breakouts, this stock could be entering into an upleg. (As at 3:00pm, Hibiscus & Hibiscus-WA are trading at RM2.18 & RM1.64.)
Based on technical breakout, Hibiscus & its warrant could be a trading BUY.
Chart 1: Hibiscus's daily chart as at Dec 5, 2013 (Source: Tradesignum)
Chart 2: Hibiscus-WA's daily chart as at Dec 5, 2013 (Source: Tradesignum)
In addition to the disclaimer in the preamble to my blog, I hereby confirm that I do not have any relevant interest in, or any interest in the acquisition or disposal of, Hibiscus.