AmInvest Research Reports
Stock on Radar - Aeon Co. (M) (AEON)
AmInvest
Publish date: Tue, 22 Oct 2024, 09:28 AM
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All materials published here are prepared by AmInvest. For latest offers on AmInvest trading products and news, please refer to: https://www.aminvest.com/eng/Pages/home.aspx
Tel: +603 2036 1800 / +603 2032 2888
Fax: +603 2031 5210
Email: enquiries@aminvest.com
Office Hours
Monday to Thursday: 8:45am – 5:45pm
Friday: 8:45am – 5:00pm
(GMT +08:00 Malaysia)
Aeon Co. (M) (AEON | 6599)
Last Price: RM1.55 | Technical Call: BUY
| Support 1: RM1.48 | Resistance 1: RM1.70 |
| Support 2: RM1.37 | Resistance 2: RM1.80 |
| Shariah Compliant: Yes | Sector: Consumer |
We believe that buying interest in Aeon Co. (M) may have returned after it recovered above its 20-day EMA and the RM1.50 psychological level a few sessions ago. As the stock also broke out of the 3-week bullish flag pattern, it may see additional strength in the near term. A bullish bias may emerge above the RM1.48 level with stop-loss set at RM1.35, below the 14 Oct low.
Towards the upside, near-term resistance level is seen at RM1.70, followed by RM1.80.
Entry: RM1.48-1.55
Target: RM1.70, RM1.80
Exit: RM1.35
Source: AmInvest Research - 22 Oct 2024
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