•  Since the retracement of Anzo’s share price to RM0.12 on 27 Jan 2016, the stock staged a powerful rebound with buying momentum charging along. The long marubozu white candlestick on 19 Feb 2016 with 30.5m volume penetrated the critical resistance of RM0.235, initiating a impulse trading BUY. In addition, the stock is gaining bullish strength as substantiated by hourly MACD (GoldenCross signal), RSI (buying momentum picking up pace) and Slow Stochastics (heading towards stronger bullish territory).  With strong buying interests in the stock, we are of the view that share price is expected to move higher. For the upside, we are targeting RM0.26, RM0.27 and RM0.29. Support at RM0.235 with cut loss below RM0.225.
• Attractive risk to reward ratio with 20.8% upside against 6.3% downside. All in, we see an attractive risk to reward ratio for investor with a theoretical entry price of RM0.24 given that the downside to the cut loss zone of RM0.225 is 1.5 sen (-6.3%) while the upside to the LT price objective of RM0.29 is 5 sen (+20.8%).

Source: Hong Leong Investment Bank Research - 1 Mar 2016