Highlights / Stock Picks of the Day - Allianz Malaysia Berhad ("ALLIANZ")

Among the ranks of the top gainers on Tuesday was ALLIANZ, which surged 19 sen to close at RM6.66. ALLIANZ had been on an uptrend in recent months, rising from a low of RM4.49 in May.  From a technical
perspective, the share price has exhibited moderate cyclical patterns and yesterday's bullish move potentially signals the start of the next up-swing. Its 20-day SMA has just staged a golden crossover with the 50-day SMA and given that it was accompanied by an increase in traded volumes, it is likely that the share price will continue its move  higher going into midweek. The indicators have yet to show any signs  of weakness,
although traders should be on their toes as both the Stochastic and RSI indicators have just entered their overbought zones.

Source: Kenanga