Good Articles to Share
Hengyuan tops RM19; TA Securities says stock 'overdone'
KUALA LUMPUR (Dec 29): Hengyuan Refining Co Bhd rose as much as RM1.24 or 7% to RM19.20 on expectation of the crude oil refiner's growing profit margin as demand for crude oil products improve.
At 11:26am, Hengyuan shares were traded at RM19.12 to become Bursa Malaysia's top gainer. Hengyuan saw some four million shares transacted.
"Looking at the technical chart, this is overdone," TA Securities Holdings Bhd technical analyst Stephen Soo told theedgemarkets.com.
According to Rakuten Trade Sdn Bhd vice president of research Vincent Lau, the movement in Hengyuan's share price is likely due to the widening crack spread, which will help improve refiners' profit margin.
"For the refiners, as oil demand grow and with the widening crack spread, which is an indicator of refiners' margin, investors are still positive on the outlook for refiners," Lau said.
https://www.theedgemarkets.com/article/hengyuan-tops-rm19-ta-securities-says-stock-overdone
Related Stocks
| Chart | Stock Name | Last | Change | Volume |
|---|
More articles on Good Articles to Share
Could being online actually be good for you? New study reveals a surprising finding
Created by Tan KW | May 15, 2024
Xiaomi becomes eighth largest EV upstart in China after successful SU7 launch
Created by Tan KW | May 15, 2024
Discussions
Be the first to like this. Showing 9 of 9 comments
This is a trick to push down the price. The comment is not support with any prove and data. Why ppl believe on this nonsense and jump to the hole that dig by the stupid guy.
2017-12-29 22:21
The same happened before in datasonic i remember. Was it 2-3 years ago? Also from TA Securities. Once article came out, rally came to a stop
2017-12-29 23:23
The sohai Tx Securities Holdings Bhd say overdone ! all sohai believe. Pui
2018-01-12 16:20
Post a Comment
Featured Posts
MQ Trading Signals
Time
Signal
Duration
Type
2024-05-15 12:20:00
EMA 5
10 Mins
BUY
2024-05-15 12:15:00
EMA 5
5 Mins
BUY
2024-05-15 11:30:00
EMA 5
5 Mins
SELL
2024-05-15 11:25:00
EMA 5
5 Mins
BUY
2024-05-15 10:35:00
EMA 5
5 Mins
SELL
Apps
Top Articles
1
Koon Yew Yin's Blog
2
save malaysia!
3
4
Good Articles to Share
5
6
save malaysia!
8
MQ Market Updates
#
Stock
Score
Daily Stocks
Stock Name
Last
Change
Volume
Stock Name
Last
Change
Volume
Stock Name
Last
Change
Volume
Featured Advertisers / Partners
Ride The Bull Short The Bear
CS Tan
4.9 / 5.0
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
scanner
What you commented HY price is overdone is very misleading. With your comment the shares have drop so fast and created panic to the investors. You cannot simply said that it is overprice by charting without commenting on the fundamental of the shares.
Charting is one of the tools to use to buy or sell shares on timing. It does not represent the real value of the shares.
Good shares are based on some of the followings,
1 The management team
2 The company profit and its future potential
3 The consistent dividend payment
4 The company future growth yield.
5 The consistency of the revenue growth over the years.
etc.
HY was taken over in year 2017. For the last 3 quarters revenue reports, it is improving with surprised revenue and profits. Hopefully this last quarter will be better.
Secondly the increased in crude oil price will definitely surpassed the previous years profits.
Investors invest into the company base on their foresight of future revenue and earnings to increase further than the current level.
When you buy futures, that is what it expected the price to be.
Yes you can use charts to guide you but you cannot be so bias as to judge the company is over done without commenting on the fundamental of investment.
Why done you said on Pmetal. The way I look at it, it is about the same track of Pmetal. Pmetal will also shot up more if it EPS is as good as HY. Pmetal up for this week base on the increase in aluminum price increased in December 2017. So HY price up is based on the crude oil price increased. So what is wrong with that? Investors consider that the current price of HY is undervalued. So they are prepare to invest more money into this fundamental and it is not speculating. You did not even mention about the P/E ratio and have already judged on HY resulting weaker investors to panic.
2017-12-29 17:58