Tenaga Nasional may trend higher, says RHB Retail Research

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KUALA LUMPUR (June 20): RHB Retail Research said Tenaga Nasional Bhd may trend higher after it formed a third consecutive white candle.

In a trading stocks note today, the research house said as the 21-day 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.