RHB Retail Research

Trading Stocks - AEON Co. (M)

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Publish date: Mon, 16 Nov 2020, 05:53 PM
rhboskres
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RHB Retail Research

AEON Co. (M) formed a white candle, decisively crossing above the MYR0.75 resistance on strong volume. This is an indication that its sharp multi-month retracement phase may have reached an interim low and a counter-trend rebound is likely in the making. A positive bias may appear above MYR0.75 with resistance points expected at MYR0.83 and MYR0.90. This bias would stay provided the MYR0.74 support does not fail.

Source: RHB Securities Research - 16 Nov 2020

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