PP 7767/09/2010(025354)

马来西亚 技术分析 RHB Research

Institute Sdn Bhd
A member of the
RHB Banking Group
每周交易构思 Company No: 233327 -M
MARKET DATELINE

2010 年 7 月 5 日
国家能源 Tenaga Nasional
强力阻力位于 8.50 令吉… 套利

Technical Research Team Tel : (603) 9280 2584 E-mail: technicalresearch@rhb.com.my

图 1 : 国家能源 Tenaga 日线图

统计∶

股票代号 5347
收盘价 RM8.40
52 周最高点 RM8.84
52 周最低点 RM7.55
今年至今变动
（令吉） RM0
今年至今变动
（%） 0%
每宗交易 100 股

缴足资本
4347.949 百万
市值
RM36522.77 百万
流动量
1623.02 百万

核心业务∶
国家能源再次丢失 8.50 令吉关键水平。自从国家能源成功在 2009 年 4 月至 7 月发动一轮
在获得电力供应总监所发出的 涨潮后，该股便在无法突破 8.50 令吉阻力水平后，便开始转入横摆。从此以后，该股便在
执照下，国家能源传递、分销 7.95 令吉扶持水平至 8.50 令吉阻力水平之间游移。自从 2010 年 4 月起，交投动力开始改
及销售电力。它通过其子公司 善，而它也成功闯破 8.50 令吉障碍线。可是，它仍旧无法站稳于 8.50 令吉关口以上。最
生产、销售和维修变压器和开 近，它再次跌破 8.50 令吉，并一度在周五下探至 8.31 令吉全日低点，然后才以一根“类
关设备。同时，它也提供计划 似锤头线”（hammer-like）收 8.40 令吉。
管理及咨询服务、工程项目和
能源计划的发展服务。
出现在靠近 8.50 令吉进行套利的良机。虽然“锤头线”建议该股有望反弹，但刚下滑的
*资料来源∶彭博社
10 日移动平均线却显示 8.50 令吉将形成一道稳健的阻力。其实，从最近好坏参半的动力解
（Bloomberg）
读和疲弱的交投量看来，整个技术形势正在恶化中。换言之，近期料将出现更多下跌走势。
有鉴于此，我们预计它将会在靠近 8.50 令吉再次向下转低，以放眼下探至当前交投波幅的
下档水平，即 7.95 令吉。有鉴于此，我们认为，近期任何扬升至 8.50 令吉的升势，将被
视为进行套利国家能源的良机。

技术推荐∶

♦ 策略: 在接近 8.50 令吉强力阻力线进行套利。

♦ 阻力水平: IR = RM8.50 R1 = RM9.00 R2 = RM9.60

♦ 支持水平: IS = RM7.95 S1 = RM7.50 S2 = RM7.00

♦ 停损水平: 如果它能够完全排除 8.50 令吉关口，那么短期将会转俏。

请仔细阅读位于本报告尾页的重要披露（ IMPORTANT DISCLOSURES）

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IMPORTANT DISCLOSURES

This report has been prepared by RHB Research Institute Sdn Bhd (RHBRI) and is for private circulation only to clients of RHBRI and RHB Investment Bank Berhad
(previously known as RHB Sakura Merchant Bankers Berhad). It is for distribution only under such circumstances as may be permitted by applicable law. The
opinions and information contained herein are based on generally available data believed to be reliable and are subject to change without notice, and may differ or
be contrary to opinions expressed by other business units within the RHB Group as a result of using different assumptions and criteria. This report is not to be
construed as an offer, invitation or solicitation to buy or sell the securities covered herein. RHBRI does not warrant the accuracy of anything stated herein in any
manner whatsoever and no reliance upon such statement by anyone shall give rise to any claim whatsoever against RHBRI. RHBRI and/or its associated persons
may from time to time have an interest in the securities mentioned by this report.

This report does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives
of persons who receive it. The securities discussed in this report may not be suitable for all investors. RHBRI recommends that investors independently evaluate
particular investments and strategies, and encourages investors to seek the advice of a financial adviser. The appropriateness of a particular investment or
strategy will depend on an investor’s individual circumstances and objectives. Neither RHBRI, RHB Group nor any of its affiliates, employees or agents accepts
any liability for any loss or damage arising out of the use of all or any part of this report.

RHBRI and the Connected Persons (the “RHB Group”) are engaged in securities trading, securities brokerage, banking and financing activities as well as providing
investment banking and financial advisory services. In the ordinary course of its trading, brokerage, banking and financing activities, any member of the RHB
Group may at any time hold positions, and may trade or otherwise effect transactions, for its own account or the accounts of customers, in debt or equity
securities or loans of any company that may be involved in this transaction.

“Connected Persons” means any holding company of RHBRI, the subsidiaries and subsidiary undertaking of such a holding company and the respective directors,
officers, employees and agents of each of them. Investors should assume that the “Connected Persons” are seeking or will seek investment banking or other
services from the companies in which the securities have been discussed/covered by RHBRI in this report or in RHBRI’s previous reports.

This report has been prepared by the research personnel of RHBRI. Facts and views presented in this report have not been reviewed by, and may not reflect
information known to, professionals in other business areas of the “Connected Persons,” including investment banking personnel.

The research analysts, economists or research associates principally responsible for the preparation of this research report have received compensation based
upon various factors, including quality of research, investor client feedback, stock picking, competitive factors and firm revenues.

Technical recommendation framework for stocks and sectors are as follows: -

Technical Recommendation:
Trading Buy = Short-term positive opportunity spotted. It is an aggressive trading recommendation with a book to sellers’ price for short-term technical upside.
Bargain Buy = Short-term positive but technical signals have yet to trigger a rally. Traders can park and queue for their desired entry level within a small range.
Buy on Weakness = Short- to Medium-term positiveness anticipated, but technical readings are still negative. Traders can pick-up the stock for future rally.
Sell on Strength = Short-term momentum still positive, Traders are advice to lock in profit base on current strength.
Take Profit = Short-term target achieved. Traders are advice to exit before the technical readings turn bearish.
Avoid = Risky situation in the short-term and high volatility expected on the share price. Traders’ best strategy is staying away until it stabilises.

Technical Time Frame:

Immediate-term = short time frame within a contra period.
Short-term = moderate time frame within two to three contra periods. For tracking purposes, we refer to 10 trading days.
Medium-term = medium time frame usually refers to two to three weeks period. For tracking purposes, we refer to 20 trading days.

Technical recommendations are generally short-term in nature and may differ from RHBRI’s equity fundamental view and recommendation on the same company.

RHBRI is a participant of the CMDF-Bursa Research Scheme and will receive compensation for the participation. Additional information on recommended
securities, subject to the duties of confidentiality, will be made available upon request.

This report may not be reproduced or redistributed, in whole or in part, without the written permission of RHBRI and RHBRI accepts no liability whatsoever for the
actions of third parties in this respect.

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