Friday, October 16, 2009

Tenaga may have a bullish breakout

Tenaga has just broken to the upside of its symmetrical triangle at RM8.43-44. It closed at RM8.48 today. The next resistance will be RM8.50 & thereafter RM9.00.

Chart: Maybank's daily chart as at Oct 15, 2009 (Source: Tradesignum)

Besides buying into Tenaga, you can also consider its CWs. From the table below, you can choose from 3 CWs. My preference is for Tenaga-CL & Tenaga-CM.

Table: Tenaga's CWs terms & valuation

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