AmInvest Research Reports
Stock on Radar - Aeon Co. (M) (AEON)
AmInvest
Publish date: Wed, 25 Sep 2024, 09:29 AM
AmInvest
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All materials published here are prepared by AmInvest. For latest offers on AmInvest trading products and news, please refer to: https://www.aminvest.com/eng/Pages/home.aspx
Tel: +603 2036 1800 / +603 2032 2888
Fax: +603 2031 5210
Email: enquiries@aminvest.com
Office Hours
Monday to Thursday: 8:45am – 5:45pm
Friday: 8:45am – 5:00pm
(GMT +08:00 Malaysia)
Aeon Co. (M) (AEON | 6599)
Last Price: RM1.57 | Technical Call: BUY
| Support 1: RM1.54 | Resistance 1: RM1.70 |
| Support 2: RM1.43 | Resistance 2: RM1.80 |
| Shariah Compliant: Yes | Sector: Consumer |
We expect further upside for Aeon Co. (M) after it pushed above the RM1.54 resistance and hit a new 52-week high yesterday. With the 20-day EMA remaining above the 50-day EMA since the bullish crossover in early-May, the uptrend may continue in the near term. A bullish bias may emerge above the RM1.54 level with stop-loss set at RM1.41, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM1.70, followed by RM1.80.
Entry: RM1.54-1.57
Target: RM1.70, RM1.80
Exit: RM1.41
Source: AmInvest Research - 25 Sep 2024
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