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Tenaga Nasional BerhadTenaga Nasional BerhadTenaga Nasional Berhad

Tenaga Nasional Berhad

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TENAGA will meet resistance and create wave 2Looking at the technical chart for Tenaga Nasional Bhd (TNB), here's my analysis: Recent Price Action: - The stock is currently trading at around RM14.82, showing a slight decline of 0.54% - There's been an uptrend since December 2023, with the stock rising from around RM13.00 to current levels Key Technical Levels: 1. Support levels: - Strong support around RM13.50 which has been tested multiple times - Secondary support at RM13.06 (marked as level 1 on the chart) 2. Resistance levels: - Major resistance at RM15.06 (marked at the top of the chart) - Secondary resistance around RM14.58 (0.236 Fibonacci level) Pattern Analysis: - The chart shows what appears to be an Elliott Wave pattern with numbered waves (1-5) - Currently seems to be forming a potential wave 4 pullback before a possible move higher - The stock has been respecting an upward trending channel since December Volume Analysis: - Trading volume (shown at bottom) has been relatively consistent - Some spikes in volume during major price movements, particularly in June-July period Near-term Outlook: - The overall trend remains bullish as long as price stays above RM13.50 - If the Elliott Wave count is correct, there could be one more push higher (wave 5) - Key will be whether price can break above the RM15.06 resistance level Traders should consider: - Setting stops below RM13.50 for long positions - Watching the RM15.06 level for potential breakout opportunities - Being cautious of potential pullbacks as part of wave 4 completion
MYX:TENAGALong
by pengamalgelombang
TENAGA, AlgoSignal reveals potential uptrendSeveral indicators within my algorithmic system are signaling a potential uptrend. These include: - Increased volume: Activity is picking up, suggesting growing interest and potential momentum. - Mid- to long-term uptrend: Both the 50-day and 150-day exponential moving averages are pointing upward, indicating a sustained positive trajectory. These factors collectively point towards the possibility of an upward movement in the near future
MYX:TENAGALong
by UnknownUnicorn34694209
TENAGA Analysis(MARCH 2022)(Daily timeframe analysis) -My expectation the current price will retest around Supply zone at 9.020 and 9.115 -The swap zone will become a strong supply zone -The breakout area at 9.000 is a sign for another upcoming Bear run -Theres a lot of price action at 9.000 support area when lowering timeframe -Compression appeared at current price,BOOM we have another price action -Based on my experience,usually after breakout + compression there would be a big drop after the price approach the supply zone My conclusion:- Wait for the price to approach at the demand zone around 8.520 and 8.455 first then wait for another price action. What price action need to look at? just wait for a price rejection when the price approach at demand zone.It will be a good sign if the price do a rejection.After that maybe the price will going up till the Swap zone area around 9.545 and 9.670. Okay thats all,Thank you for willing to read my idea. Its just my 2 cents btw. (I am not a financial advisor, Im here because i love to share my analysis) ''Ohh btw,Sorry my english is bad. I hope my english will be better soon! HAHAHA'' Have a nice day everyone!
MYX:TENAGA
by CrispyValue