Sunday, May 01, 2011

Learning Corner

Descending Triangle

Tenaga : The horizontal line at 5.98 used as support while lower high forming, descending. Once it approaches the vertex of the triangle, could it break-down? Do you consider this one as 'descending triangle'? Technically speaking, a break-down of this support is a SELL.

Tenaga, with many hold or sell call(due to high priced coal) still a heavy weight that could be used to lift KLCI to next level. The positive 'stories' are the strengthening of MYR(vs USD) and 'election theme'. The hike of electricity tariff could be another. PE-wise, one of the cheaper blue-chip around.


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