Allianz Malaysia is poised to rebound from its support as it bounced off the intraday low yesterday to close in a positive tone above the 21-day average line – while keeping the immediate resistance of MYR12.90 in its sights. If the buying interest continues to surpass that level, it is expected to climb further towards MYR13.30, followed by MYR13.50. If it falls below the support level of MYR12.70, the stock may trend downwards below the average line.

Source: RHB Securities Research - 14 Jun 2022