Tenaga Nasional Bhd (5347) 

• TENAGA gained 38 sen or 3.0% to close at RM13.06 yesterday.
• TENAGA formed a bullish long white candle accompanied by resistance breakout sending the price to close above RM 13.00 level yesterday. As such, we expect the buying momentum to persist while we also believe that TENAGA is currently trading at 2 standard deviation below its 1-year mean thus providing an attractive entry opportunity.
• From here, resistance levels are expected at RM13.60 (R1) and RM 14.02 (R2) for the next level.
• Meanwhile, support levels can be found at RM12.60 (Si) and RM12.44 (S2).

Source: Rakuten Research - 19 Mar 2019