Tenaga is at its short-term uptrend line support of RM11.50

Tenaga has been drifting lower from its recent high of RM12.40 recorded on April 17 & 18 this year. It is now resting on its short-term uptrend line support at RM11.50. This level should be a good entry level for Tenaga, which has been valued by many analyst as high as RM12.50-13.00. The next supports will be the horizontal support level of RM11.40 & RM10.90, while the next resistance level will be at RM11.80 & RM12.40.


Chart: Tenaga's daily chart as at April 27 (courtesy of Quickcharts)