AEON Co. (M) jumped and touched the RM1.12 resistance level. With its RSI indicator pointing upwards, coupled with a higher trading volume, there is a good chance it may break out and head towards a short-term target price of RM1.17, followed by RM1.22. The downside support is marked at RM1.04. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM1.12

Target: RM1.17, RM1.22 (time frame: 2-4 weeks)

Exit: RM1.04

Source: AmInvest Research - 18 Dec 2020