We expect further upside for AEON Credit Service given that it took out the 2-month downtrend line with a long positive candle yesterday. As the 20-day and 50-day EMAs are converging now and likely to confirm a positive crossover soon, the current bullish momentum may continue in the near term. A bullish bias may emerge above the RM7.00 level with stop-loss set at RM6.64, below the 6 Aug low. Towards the upside, near-term resistance level is seen at RM8.00, followed by RM8.50.

Entry : RM7.00–7.30

Target : RM8.00, RM8.50

Exit : RM6.64

Source: AmInvest Research - 29 Aug 2024