Allianz shares showed bullish rally recently after facing the bullish channel’s support, to settle at 147.15 and face the moving average 55 that blocks the bullish rally as appears on chart, thus, we will depend on the stability of the main support at 133.00 to wait to surpass the moving average 55, to open the way to reach more targets, starting from 158.10 then 165.35.

Stochastic forms bullish rebound after touching 20 level, to begin offering the required momentum that confirms the positivity, increasing the chances of breaching the moving average.

Expected trading range for today is between 140.60 and 158.10

Expected trend for today: Bullish