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.
