RHB Retail Research
Technical Analysis -Tenaga Nasional
Tenaga Nasional may rebound further after it tested MYR13.50 support in its latest session. Given that the stock has formed a “Hammer” pattern on 6 Dec, this indicates a potential rebound. A bullish bias may appear above the MYR13.50 level, with an exit set below the MYR13.50 threshold. Towards the upside, the near-term resistance is at MYR14.30. This is followed by the MYR15.00 level.
Source: RHB Securities Research - 7 Dec 2018
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