Allianz may trade higher if it can break above the 6-month resistance level of RM5.00. A position can be initiated if it happens, with a close below RM4.85 as stop-loss. The price target is last year’s high of RM5.50. A failure to break above RM5.00 may invite selling, with a close below RM4.85 as confirmation. Expect strong support at the recent low of RM4.50.
Source: OSK
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