Hengyuan Refining Company was testing the MYR5.20 level in its latest session. A bullish bias may be present above this point with a target price of MYR5.50, followed by MYR5.90. The stock may consolidate further if it cannot breach above the MYR5.20 threshold decisively in the near term. Support may be found at MYR4.50, where traders can exit upon a breach to limit the downside risk.

Source: RHB Securities Research - 8 Jan 2019