Tenaga Still on Uptrend

Tenaga daily chart

Tenaga Nasional, the biggest utility power company in Malaysia is one of the most liquid share in Bursa Malaysia stock market.The share currently trade at RM8.85 which closed on the last Friday. Most of the research house downgrade back the share price to RM9. from RM10 recently. due to lower earning expectations.

My observation:

• Longterm - Tenaga (TNB) stock price still on uptrend.
• Short term - the downtrend line already broken on last week.
  

I still believe that there is still room for Tenaga to hike. Happy reading...