Sector: Retail / Recovery

Analysed on 22/08/21

AEON has been trading sideway since early of June until it broke the resistance at RM1.350 recently. AEON is currently trading at RM1.440, with immediate support at RM1.350 and immediate resistance at RM1.450. Should AEON break the resistance at RM1.450, it will challenge the next resistance at RM1.510.

Overall, AEON is looking strong, with both EMA25 and EMA50 sloping upwards, indicating an uptrend. In view that Malaysia is currently executing high vaccination rate to meet the target of herd immunity of the end of this year, AEON is definitely one of the recovery counters that will be benefited when the economy reopens. Investors can take EMA25/50 or support level as reference for entry point.

Reason to Monitor: Recovery stock.

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