Tenaga should climb higher after closing above RM7.00 for several days now. A purchase can be made as long as the stock stays above the psychological RM7.00, with a close below RM6.90 as a stop-loss. The price targets are prior highs of RM7.40 and RM8.00. Failure to stay above RM8.00 could see the stock trade sideways, and selling pressure may intensify on a close below RM6.90.
Allianz should continue higher if it returns above the RM8.00 psychological level. A position can be initiated if the stock stays above RM8.00, with a close below RM7.70 as a stop-loss. The price target is RM9.40, with resistance seen at RM9.00. Failure to stay above RM8.00 should see the stock trend sideways, with supports lying at RM7.20 and RM6.80.