TECHNICAL OUTLOOK: Positive with possible MACD Crossover soon
Moving Averages:
The stock price is above the 150-day, 200-day, 20-day, and 50-day moving averages. This indicates that the trend is still bullish, with short-term averages above long-term ones, showing strength in the uptrend.
Bollinger Bands:
The price is currently near the middle of the Bollinger Bands, suggesting that the stock is not overly bought or sold at this moment. It’s in a consolidation phase after a strong uptrend. A break above the upper band could signal a continuation of the uptrend, while a break below the lower band could indicate a reversal.
MACD (Moving Average Convergence Divergence):
The MACD line is close to the signal line, indicating a possible crossover. A bullish crossover would support an upward move, but the current position suggests momentum might be weakening, so caution is warranted.
RSI (Relative Strength Index):
The RSI is at 55, which is in neutral territory. It’s neither overbought nor oversold, indicating that there’s room for the stock to move in either direction.
Volume:
There’s been a slight decrease in volume recently, which could mean that the upward momentum is slowing down. If the price moves up on higher volume, that would be a more positive sign.
LATEST FUNDAMENTAL NEWS on 29-August-2024
1. TENAGA's revenue improved 8.3% to RM14.37 billion in 2Q 2024 due to higher demand for electricity by 8.4%. This is in line with Malaysia's Gross Domestic Product (GDP) growth of 5.9% in the same quarter.
2. National Energy Transition Roadmap (NETR) story is intact and TENAGA will continue to be the most exposed stock to this theme.
3. The company announced a 25 sen dividend (39% higher than ast year's 18 sen).
DETAILS
1. Company announcement at Bursa
Created by KingKKK | Aug 30, 2024
Created by KingKKK | Aug 29, 2024
Created by KingKKK | Aug 29, 2024
Created by KingKKK | Aug 28, 2024
Created by KingKKK | Aug 27, 2024
Created by KingKKK | Aug 27, 2024