ALLIANZ (Not Rated)

• ALLIANZ fell 8.0 sen (-2.19%) to close at RM15.72.
• After experiencing a mini rally towards the end of 2019, the stock started the New Year with a downtrend which saw a fourth consecutive bearish candlestick formed yesterday.
• Coupled with the lack of positive upticks from key momentum indicators, we opine that there is more downside risk.
• Should the selling momentum persist, we expect the stock to find support at RM15.20 (S1) and RM14.50 (S2).
• Conversely, resistance levels can be seen at RM16.30 (R1) and RM16.90 (R2).

HLFG (Not Rated)

• HLFG rose 44.0 sen (+2.60%) to close at RM17.44 yesterday.
• Chart-wise, the stock appears to have staged a rebound in early December after sustaining a heavy sell-down that started in July last year.
• Overall technical outlook is positive as the MACD indicator is bullish while the stock had recently trended above the 20-day SMA.
• Expect the positive momentum to continue to lift the stock to the next resistance levels at RM17.90 (R1) and RM19.00 (R2).
• Conversely, its support levels can be found at RM16.50 (S1) and RM15.90 (S2).

Source: Kenanga Research - 10 Jan 2020