Hengyuan Refining Company (KLSE: 4324): 8 February 2018, Thursday, 11.17am Singapore Time

Hengyuan Refining Company (KLSE: 4324): 

8 February 2018, Thursday, 11.17am Singapore Time

(Click on Technical Chart above to Expand)

Attached above is a major portion of the Super-Cycle Technical Chart of Hengyuan Refining Company (KLSE: 4324). 12.50-13.00 is a Super-Cycle resistance that has been made the Super-Cycle support now. The great fear of the first half of February of 2018 has been used to backtest strong stocks' supports all over the world, with strong stocks such as Hengyuan holding their Super-Cycle resistance-turned-supports with relative ease. In addition, there were also deliberated huge volumes that rushed in to support Hengyuan's newfound Super-Cycle support at 12.50-13.00 range. 

With all these supports back-tested successfully in the high-stress test of February of 2018, Hengyuan can now have 2 Technical Target Price Targets established now. With milestone pivot casted at 19.00, and using historical precedents of similar stocks all over the world for projection, Hengyuan now has two Technical Price Targets as below:

1. Target Price 1 = 2 x milestone = 2 x 19.00 = 38.00

2. Target Price 2 = 3 x milestone = 3 x 19.00 = 57.00

With the above in mind, and with upside being large and indefinite, Hengyuan will become the next super blue chip titan in Malaysia as well as a key component index stock of the KLCI Index in future. Hengyuan is rated by the Donovan Norfolk Technical Rating as within the top 8 buys in the Malaysia Bursa in January 2018. 

The Donovan Norfolk Technical Rating:

Bullish with Indefinitely High Upside

Reference:

http://donovan-ang.blogspot.sg/2018/01/commodities-cyclical-upturn-to-come.html

https://donovan-ang.blogspot.sg/2018/01/crude-oil-target-us175-to-us180-per.html
https://donovan-ang.blogspot.sg/search/label/Reuters-Jefferies%20Commodities%20CRB%20Index
https://donovan-ang.blogspot.sg/2018/01/the-us-dollar-super-big-downwave-28.html
http://donovan-ang.blogspot.sg/2017/10/baltic-dry-index-shipping-industry-and.html

Additional Related (Optional to read):
https://donovan-ang.blogspot.sg/search/label/Light%20Crude%20Oil
https://donovan-ang.blogspot.sg/search/label/Hibiscus%20Petroleum
https://donovan-ang.blogspot.sg/search/label/SembCorp%20Marine

https://donovan-ang.blogspot.sg/search/label/Keppel%20Corp

Top 8 Commodity Stocks of Malaysia:
(These trenders will continue to go trending up powerfully and widen the gap from the pack)
http://donovan-ang.blogspot.sg/2018/01/commodities-cyclical-upturn-to-come.html

Donovan Norfolk Ang