AEON Co (M) surged and tested the RM0.80 resistance level. With its RSI indicator pointing upwards, coupled with higher trading volume, we see that there is a possibility it will experience a technical breakout. If this happens, expect it to travel towards the short-term target prices of RM0.84 and RM0.86. The downside support is anticipated at RM0.76, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM0.80

Target: RM0.84, RM0.86 (time frame: 2-4 weeks)

Exit: RM0.76

Source: AmInvest Research - 1 Oct 2020