Aeon Co. may trend higher after it broke above the RM1.48 resistance and hit a new 52-week high yesterday. With the 20-day EMA remaining above the 50-day EMA since a bullish crossover in early May, the uptrend may continue in the near term. A bullish bias may emerge above the RM1.48 level with stop-loss set at RM1.36, below the 50-day EMA. Towards the upside, nearterm resistance level is seen at RM1.60, followed by RM1.70.

Entry : RM1.48–1.49

Target : RM1.60, RM1.70

Exit : RM1.36

Source: AmInvest Research - 21 Aug 2024