Tenaga active, up 1.05% on positive technicals

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KUALA LUMPUR (June 20): Shares in Tenaga Nasional Bhd rose 1.05% in active trade this morning following a positive technical outlook on the stock.

At 10.24am, Tenaga rose 14 sen to RM13.42 with 1.29 million shares traded.

RHB Retail Research said in trading stocks note today Tenaga may trend higher after it formed a third consecutive white candle.

The research house said that as the 21-day simple moving average (SMA) line is likely to turn higher, it would appear that the bullish sentiment has been enhanced.

"A bullish bias may appear above the RM13 level, with an exit set below the RM12.12 threshold.

"Towards the upside, the near-term resistance is at RM13.80. This is followed by the RM14.40 level," it said.