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.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.