RHB Retail Research: Tenaga Nasional may see positive bias emerge

RHB Retail Research says Tenaga Nasional Berhad has likely completed its multi-week bottom- building process as it crossed above the 21-day SMA line in the latest session, while volume has been improving over the recent sessions.

In a trading note, the research house says a positive bias may emerge above MYR11.25 with resistance points pegged at MYR11.90 and MYR12.10.

A downside breach of MYR11.25 would invalidate this positive expectation.

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