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With the Russia and Ukraine war going on, energy prices especially in the oil and gas sector continue to stay elevated. Supply chain in the oil and gas sector continue to see higher margin with the higher energy commodities prices.
I would suppose that this will be the same for oil refinery company.
PETRONM had report the quarterly report with positive EPS that had shown the recovery of the oil refinery sector.
As you can see, PETRONM result is very good with EPS 22.4 and even giving out 20 cents dividend for the share holder.
HENGYUAN is going to report the quarterly report later today on 28 FEB 2022 after market hour.
Currently, the share price is on the uptrend, but sitting towards the support line of the uptrend.
I do not hold any insider information about the upcoming result of HENGYUAN.
However, with the positive oil price environment, and also a big margin in crack spread in oil refinery, it should be giving a good profit.
At the current price below RM 4.30 on technical retracement, do you think it is a good point to average down? enter into new position? add your investmet position?
IMPORTANT NOTICE
Please be informed that I am not a professional or certified analyst. I am not a licensed consultant, just a normal retail investor. I am just sharing my ideas and opinion on the market outlook. Any company mentioned should not be interpreted as a buy/sell/trade call. Please do your own research and buy/sell/trade at your own risk.
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