Wednesday, April 13, 2011

Technical Analysis Apr 2011: TENAGA (5347)



TENAGA NASIONAL BHD

Observation from Chart:-


TENAGA seem like forming symmetrical triangle.

If able break up the upper triangle line, may look for RM6.50 level for profit target (around +5% profit)

If break down the lower triangle line, it might retrace down to RM5.95 level (around -4% loss)

Most analysts will take a position once the price breaks through the top line of the triangle with increased volume.

Let watch closely for entry opportunity.

Remark:
Pls buy at your own risk & consult your broker b4 make any buy or sell order!!!

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