5.1b Ringgit To Oil Refinery In Malaysia

5.1b Ringgit To Oil Refinery In Malaysia

Hong Kong’s NewOcean Energy Holdings Limited said on Monday it planned to build a 5.1 billion ringgit (S$1.624 billion) petroleum refinery complex on Malaysia’s east coast along with two partners.

NewOcean will partner Malaysia’s Kuantan Port Consortium Sdn Bhd and Malaysian east coast development body. This (refinery) will further strengthen the throughput’s that will go through Kuantan Port, which has easy access to China, South Korea, Japan, Australia and Asean.

NewOcean is a Hong Kong-listed company primarily engaged in the sales and marketing of liquefied petroleum gas and natural gas, oil and electronic products.

Kuantan Port Consortium is jointly owned by IJM Corporation and Hong Kong’s Beibu Gulf Holding (Hong Kong) on a 60:40 equity holdings basis. The Malaysian government has a special rights share in the consortium.

The other deals announced include a 1.95 billion ringgit investment by Asas Panorama Sdn Bhd for the development of the third phase of the Malaysia-China Kuantan Industrial Park (MCKIP 3), planned for 680 acres of land.

China’s Zhaoqing Junhong will invest 1.6 billion ringgit for a facility to manufacture semi steel radial tyres at the MCKIP 2.

Malaysia has been attracting Chinese investments in recent years, as leaders of both nations forged close ties. The investments have poured into sectors such as manufacturing, infrastructure and real estate.

Technical Analysis

Overall, the bias in prices is: Sideways.

Short term: Prices are stalling.

Intermediate term: Prices are ranging.

The projected upper bound is: 4.30.

The projected lower bound is: 4.27.

The projected closing price is: 4.28.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 7 white candles and 2 black candles for a net of 5 white candles. During the past 50 bars, there have been 27 white candles and 16 black candles for a net of 11 white candles.

A rising window occurred (where the top of the previous shadow is below the bottom of the current shadow). This usually implies a continuation of a bullish trend. There have been 4 rising windows in the last 50 candles–this makes the current rising window even more bullish.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 42.2679. This is not an overbought or oversold reading. The last signal was a sell 28 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 47.61. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 37 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 17. This is not a topping or bottoming area. The last signal was a buy 0 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 0 period(s) ago.

Rex Takasugi – TD Profile

FOREX MYR= closed up 0.005 at 4.282. Volume was 50% below average (consolidating) and Bollinger Bands were 66% narrower than normal.

Open   High    Low    Close   Volume
4.280   4.283  4.279  4.282  20

Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish

Moving Averages: 10-period    50-period    200-period
Close:                       4.28             4.28              4.38
Volatility:                2                   2                    4
Volume:                   41                 37                  34

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

FOREX MYR= gapped up today (bullish) on light volume. Possibility of a Common Gap which usually coincides with a lack of interest in the security. Common Gaps are fairly irrelevent for forecasting purposes. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
FOREX MYR= is currently 2.1% below its 200-period moving average and is in an downward trend. Volatility is Our volume indicators reflect volume flowing into and out of MYR= at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on MYR= and have had this outlook for the last 8 periods.

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Ivy Heffernan

My name is Ivy Heffernan, and I am interested in a wide range of professions. Economics and politics at the age of 17 is easy when your father has a Ph.D in economics, i have been taught to put together technical analyst and stay up to date with the changing markets as well as what is happening in the political world. Marketing: This one comes as quite a surprise. As I never really knew my true potential for it. It began when I offered to help someone once with their seo, marketing and Web design for free. I'm only 16 so I knew no one would pay me for something I 'claimed' to be good at. Although thanks to analytic reports, it showed that from the seo I was doing the website got more than double its daily views. On top of that the owner was more than happy with the Web design and for marketing. Well for someone who only started a month ago, getting 10+ people a week I'd say is pretty good. Summary: I think being a well rounded individual on all topics is the most important thing to everyone, with the changing economies it's good to know that no matter what life throws at you, and no matter what job you are given, you'll always be capable.

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