Rising tide does not lift all boats in O&G sectors – the title says it all. 

The price of the crude oil price has increased to about 90 USD per barrel. It does affect the earning of [%pLwd%] , [%JJQw%] positively. However, it does not work for [%axvq%] as the news reported that their q-o-q earning are declining. 

Maybe this is what drives hengyuan price to be lower after a month rally from 16th of March. The price currently holds on fibo 0.382 with shrinking Bollinger bands. There was a death cross and ever since, the downtrend momentum is strong. Therefore, I would expect to pick the stock in fibo 0.618 and cutloss below fibo 0.786, which also represent the historical resistance.

Rising tide does not lift all boats in O&G sectors – the title says it all. 

The price of the crude oil price has increased to about 90 USD per barrel. It does affect the earning of $KLSE-PETRONM , $KLSE-PCHEM positively. However, it does not work for $KLSE-HENGYUAN as the news reported that their q-o-q earning are declining. 

Maybe this is what drives hengyuan price to be lower after a month rally from 16th of March. The price currently holds on fibo 0.382 with shrinking Bollinger bands. There was a death cross and ever since, the downtrend momentum is strong. Therefore, I would expect to pick the stock in fibo 0.618 and cutloss below fibo 0.786, which also represent the historical resistance.

$PETRONM / 3042 (PETRON MALAYSIA REFINING & MARKETING BHD)

$PCHEM / 5183 (PETRONAS CHEMICALS GROUP BERHAD)

$HENGYUAN / 4324 (HENGYUAN REFINING COMPANY BERHAD)