Tenaga Technical Analysis

Tenaga is certainly on an uptrend.  But where are the trend lines?



Two major trend lines are both near RM 13 a share and RM 12.  Supposedly the resistance level at RM 9-10 a share should have held the upside, but markets tend to blow past this area especially if news is big which was in the case of Tenaga at the end of 2013.

For support, likely the range of RM 11-13 a share is possible to hold.  But we need to discern whether the rebound is strong after breaching the bottom of the range.  If it is not, we could see much lower numbers.  Better wait and see whether Tenaga has the strength at support levels first before jumping in.