AEON Co. (M) rose and touched the RM1.55 resistance level. With its 21-day moving average pointing upward, coupled with a higher high candle stick pattern, there is a good chance that it would experience a technical breakout and head towards the short-term target price of RM1.63, followed by RM1.66. The downside support is marked at RM1.44. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM1.55

Target: RM1.63, RM1.66 (time frame: 2-4 weeks)

Exit: RM1.44
 

Source: AmInvest Research - 17 Sept 2021