Tenaga has just tested its medium-term uptrend line

Tenaga dropped 50 sen to hit RM11.00 at the start of the afternoon session. From the chart below, you can see that the RM11.00 level is both a strong horizontal support as well as the support given by the medium-term uptrend line.

Based on technical consideration, Tenaga is a good trading BUY at RM11.00.


Chart: Tenaga's weekly chart as at July 4 (courtesy of Quickcharts)

This is strictly a technical call without any consideration of the company's financial performance & position.