Coincidently on 15 Sept, Hong Leong Investment Bank shared some trading ideas on Hibiscus share. We both advocating a probable breakout with the point differ by RM 0.005. Why is that so? Well, trendline is on a downward slopping line. Depend on how you draw it, you can get some variance. What I prefer is a clean and strong breakout. The share price closed up at 0.46 on the same day meets the criteria of strong (up 3.7%) but not clean (too close to trendline).

I’d subsequently published another post to provide more clarify on the basis of those key resistant points. See link below:
https://klse.i3investor.com/blogs/hibiscus_part1/132362.jsp

My conjecture is,to EPF and some fund managers, Hengyuan is not shariah compliant investment.

See my second post on Hibiscus at link below:
https://klse.i3investor.com/blogs/hibiscus_part1/132342.jsp

Reuters' article on HengYuan's  parent company being shut down in China.
https://www.reuters.com/article/us-china-environment-shandong/chinas-war-on-smog-chokes-shandong-industries-smokes-out-fuel-kiosks-idUSKCN1BO0BO

Quoted: "Among the plants that have been shutdown are Shenchi Petrochemical, Hengyuan Petrochemical Group, Fuyu Chemical, and Aoxing Petrochemical...."

Maybe a contributing factor to HengYuan recent decline.  Currently HengYuan is self-sustaining with profit more than adequate to finance its refinery upgrade, so impact shouldn't be too long.

Perhaps this is an opportunity for HengYuan in Port Dickson to supply fuel back to Shandon to maintain market share?? 

Quoted
"Imports of light cycle oil, a refinery by-product similar to diesel, nearly doubled in August to over 500,000 tonnes from earlier this year to fill a diesel supply gap, said two traders involved in the business. "

With oil price as such, would be interesting when market opens...