Aeon Co. (M) may trend higher after it broke above the RM1.34 resistance and hit its 3-month high yesterday. As its 20-day and  50-day EMAs are converging now and likely to turn up soon, bullish momentum is rising. A bullish bias may emerge above the  RM1.34 level, with stop-loss set at RM1.23, below the 18 May low. Towards the upside, near-term resistance level is seen at  RM1.42, followed by RM1.50.

Entry : RM1.34–1.35

Target : RM1.42, RM1.50

Exit : RM1.23

Source: AmInvest Research - 26 May 2023