AEON Co (M) has rebounded from its low with higher trading volume, after its intraday price tested the support level. With a neutral RSI, there is a possibilibity it will break the immediate resistance of RM1.47, with the short-term target price of RM1.55 followed by RM1.62. On the downside, support level is anticipated at RM1.40 whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM1.47

Target: RM1.55, RM1.62 (time frame: 3-6 weeks)

Exit: RM1.40

Source: AmInvest Research - 23 May 2019