Tuesday, April 02, 2013

Tenaga- finally takes off...

Tenaga finally broke above the minor resistance at RM7.20 and flew. It even broke above the horizontal resistance at RM7.50. As at 3.45pm, it was trading at RM7.55. Its next resistance could be at RM8.00.


Chart 1: Tenaga's weekly chart as at Apr 2, 2013_3.30pm (Source:Quickcharts)

If we look at the monthly chart, Tenaga is testing its gradual upward channel. It managed to break above the upper boundary in December 2006 at RM8.40 & rose by about RM1.00 to the high of RM9.43. The current upper boundary is at RM7.60. If Tenaga can break above that mark, can it rise to RM8.60? We will have to wait & see.


Chart 2: Tenaga's monthly chart as at Apr 2, 2013_3.45pm (Source:Quickcharts)





If Tenaga can surpass the RM7.60, I think Tenaga may be good for a quick trading BUY. However, I must caution that Tenaga is a tricky stock and you should exercise careful discretion if you choose to speculate in it.


Note:
In addition to the disclaimer in the preamble to my blog, I hereby confirm that I do not have any relevant interest in, or any interest in the acquisition or disposal of, Tenaga.



7 comments:

Dav C said...

look like tenaga just pass thru 7.60 mark and going down today. any comment?

Alex Lu said...

Hi Dav C,

The technical picture for Tenaga looks promising. If not for the GE13 around the corner, I would say it is a fair bet. But, with the general election thrown into the mix, anything is possible. It might even be a Trojan horse brought out for a show.

Dav C said...

hi alex,

Thank for the info.i took the risk and i gain from this TENAGA stock.

Alex Lu said...

Hi Dav C,

Congratulation!

Lisa Wong said...

Hi Alex, any commend on today's Tenaga performance?

Alex Lu said...

Hi Lisa Wong

If Tenaga could surpass the RM8.50 mark, it may revisit the Jan-Feb 2007 high of RM9.40.

Lisa Wong said...

thank you