Wednesday, February 29, 2012

Technical Analysis Mar 2012: TENAGA (5347)


TENAGA NASIONAL BHD

Observation from Chart:-

TENAGA trade below MA20 support level.

Will it break through RM6.38 level?

Other indicator:-
MACD trade at positive region, uptrend sign.
Stochastics %K trigger BUY call.

Strong support at RM5.96 level.
Strong resistance would be RM6.38 level.

If the bull strong enough, it might break through RM6.38
Subsequent resistance would be RM6.58 level.

Let's watch closely.

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