Tenaga, once again lost the key level of RM8.50. After a successful rally from Apr to Jul 2009, the share price of Tenaga turned into a sideways movement after failing an attempt to penetrate the RM8.50 resistance level. Since then, the stock has been fluctuating between a support of RM7.95 and a resistance of RM8.50. Since Apr 2010, its trading momentum improved and the stock managed to pierce through the RM8.50 hurdle vigorously. However, it still failed to sustain at above RM8.50. In recent session, it again eased to below RM8.50, ending last Friday at RM8.40, with a “hammer-like” candle after touching an intraday low of RM8.31.
Tenaga Nasional Berhad : Firm Resistance At RM8.50... - 5/7/2010
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