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AmInvest Research Reports

Author: AmInvest   |   Latest post: Fri, 4 Dec 2020, 10:14 AM

 

Stocks-on-Radar- Tenaga Nasional (5347)

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Tenaga Nasional pulled back, touching its low at RM9.80. With its RSI indicator falling into the oversold region, coupled with sustainable trading volume, we see there is a bargain-hunting opportunity with a possible technical rebound. If this happens, we expect it to move towards the short-term target prices of RM10.10 and RM10.40. The downside support is projected at RM9.50. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM9.80

Target: RM10.10, RM10.40 (time frame: 2-4 weeks)

Exit: RM9.50

Source: AmInvest Research - 30 Oct 2020

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Labels: TENAGA

Related Stocks

Chart Stock Name Last Change Volume 
TENAGA 10.94 -0.06 (0.55%) 1,686,900 

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