TENAGA NASIONAL BHD (TENA:KL) names Shahazwan Harris to lead IAG

TENAGA NASIONAL BHD (TENA:KL) names Shahazwan Harris to lead IAG

TENAGA NASIONAL BHD (TENA:KL) names Shahazwan Harris to lead IAG

Tenaga Nasional Bhd (TNB) has appointed Shahazwan Harris as its chief international officer, tasked with leading its new division International Asset Group (IAG) effective July 1, 2019.

TNB CEO and president Amir Hamzah Azizan said Shahazwan has been involved in various sectors, which will place value in the utility company’s long-term strategy.

“His involvement in various sectors, such as energy, telecommunications, technology, utility, aviation, sustainable development (including renewables), oil & gas and healthcare will be of value to TNB’s long term strategy to become a Top 10 Global Utility by 2025.

“The management of TNB is confident that the knowledge, experience and exposure gained by Shahazwan over the years will steer IAG’s business growth forward,” he said in a statement today.

Currently, Shahazwan holds the position as UEM Edgenta Bhd’s chief strategy and transformation officer with about 23 years of experience in investments, mergers, acquisitions, portfolio and asset management under his belt.

He is also a UMW Holdings Bhd board member and StashAway advisory committee member, a robo-advisory platform in Malaysia and Singapore.

He previously joined the utility company in 1996 for four years and later worked at PA Consulting Group, Boston Consulting Group and Khazanah Nasional Bhd, with experience across Asia and Europe throughout his time in the sovereign wealth fund.

He later sat in the Cenviro board, Opis International Consultants Ltd and UEM Edgenta Bhd, as well as have assumed advisory roles in Bain & Co (KL/SEA) and Temasek International (on Sustainability and Impact Investing).

To-date, TNB’s international footprint covers equity ownership in power-related assets in the United Kingdom, Turkey, India, Saudi Arabia and Pakistan.

Overall, the bias in prices is: Upwards.

Note: this chart shows extraordinary price action to the upside.

By the way, prices are vulnerable to a correction towards 12.57.

The projected upper bound is: 14.45.

The projected lower bound is: 13.20.

The projected closing price is: 13.82.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 23 white candles and 23 black candles.

A spinning top occurred (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close). During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 97.8448. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 10 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 71.87. This is where it usually tops. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 17 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 150.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 10 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 5 period(s) ago.

Rex Takasugi – TD Profile

TENAGA NASIONAL closed down -0.100 at 13.800. Volume was 16% below average (neutral) and Bollinger Bands were 146% wider than normal.

Open High Low Close Volume___
13.840 13.860 13.720 13.800 5,048,200

Technical Outlook
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period     50-period     200-period
Close: 13.01 12.32 13.60
Volatility: 44 32 27
Volume: 8,398,330 7,825,534 5,726,896

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

TENAGA NASIONAL is currently 1.5% above its 200-period moving average and is in an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. Our volume indicators reflect moderate flows of volume into TENA.KL (mildly bullish). Our trend forecasting oscillators are currently bullish on TENA.KL and have had this outlook for the last 14 periods. Our momentum oscillator is currently indicating that TENA.KL is currently in an overbought condition.

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