Aeon Co. (M) Bhd (6599)

• AEON closed unchanged at RM1.00 yesterday.

• Share price managed to rebound to close at RM1.00 level after hitting its 52-week low of RM0.92 level, suggesting bargain hunting. News of the panic buying of groceries across stores is likely to benefit company such as AEON.

• With key indicators displaying oversold signals, current level could provide entry opportunity.

• From here, resistance levels are expected at RM1.13 (R1) and further to RM1.27 (R2).

• On the contrary, support levels are identified at RM0.92 (S1) and RM0.85 (S2).

Source: Rakuten Research - 17 Mar 2020