TENAGA

Sector: EMS/ Industrial products

Analyzed on 12/12/2021

TENAGA as one of the FBMKLCI components stock, has not been doing well YTD, by declining 14% in its share price. We can clearly see TENAGA has been on a downtrend, making lower highs and lower lows in line with its down trending EMA25 and 50. Recently, it touched the price point of RM9.00 amid the weaker market sentiment in KLSE. TENAGA ended the week slightly higher, by closing at RM9.16. The continuous falling momentum has brought TENAGA into the RSI oversold region in early December. Although medium to long term trend is bearish, swing trader could do counter-trend trade to capitalize on the oversold opportunity.

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