Yesterday, AEON climbed a further 8 sen (4.8%) to close at RM1.75, marking its third consecutive day of gains, backed by strong trading volumes.
The rally for the past few days could be an early indication of a reversal from its long downtrend, having bottoming out endlast month.
Indicator-wise, the share price has also cut-above its 20-day and 50-day SMAs, with strong displays from its MACD and RSI.
From here, look out for resistances at RM1.81 (R1) and RM2.04 (R2). Conversely, should follow-through momentum fail to sustain, expect a firm support at its all-time low of RM1.45.
AWC (Not Rated)
AWC rose 3.5sen (4.24%) to close at RM0.860 on higher than average trading volume.
Overall technical outlook looks positive with the MACD line being above the Signal line and the share price trading above Key SMAs.
We think that the share is showing early signs of bottoming out from a downtrend. Should this continue, we expect the share to rally towards RM0.900 (R1) with further resistance found at RM1.00 (R2).
Any short-term negativity that may arise will see RM0.820 (S1) and RM0.730 (S2) acting as support levels where investors could buy in and accumulate.
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