Tenaga Expects Better Results With Strong Ringgit

Tenaga Weekly Chart 2 October 2010

Tenaga strong supported by:

• Better coal price and very stable at this moment
• Strong ringgit gave better currency exchange
• Hoping for the tax incentives or relief in initiative to bring green technology
  

From the chart, we still can see that Tenaga still in uptrend mode. MACD and RSI-14 still good. Volume should not be a problem. Most of the broker target for this counter is around RM10.00.

The latest news is Tenaga will issue bonus 4 to 1 which the price will be cheaper than the current price. I believe that in longterm Tenaga price will be better. Happy investinggg!