BUY on breakout with a target price of RM2.51 and stop-loss at RM1.97. Based on the daily chart, AEON has formed a series of higher highs and higher lows after dropping a few months back. An uptick in the DMI and the increase in trading volumes suggest buying momentum is set to continue in the near term. We expect the stock to continue trending upwards to our targets of RM2.39 and RM2.51 once it manages to penetrate above the breakout level of RM2.13.
Expected Timeframe: 2 weeks to 2 months.
Source: UOB Kay Hian Research - 26 Oct 2017
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