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Our preference: the upside prevails as long as 11.6 is support.
|Short Term View
(Rise, Limited Rise, Consolidation, Limited Decline, Decline)
|Change In Short Term View||Limited Decline to Rise|
|Medium Term View
(Bullish, Range, Bearish)
|Change In Medium Term View||None|
11.6 is our pivot point.
Our preference:the upside prevails as long as 11.6 is support.
Alternative scenario: the downside breakout of 11.6 would call for 11.3 and 11.
Comment: the RSI is trading above 70. This could mean that either the stock is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is above its 20 and 50 day MA (respectively at 11.48 and 11.01). Finally, Allianz Malaysia has crossed above its upper daily Bollinger band (11.87). Allianz Malaysia is currently trading near its 52 week high reached at 12 on 21/03/17.
Supports and resistances:
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