KUALA LUMPUR (July 31): RHB Retail Research said AEON Co (M) Bhd (KL:AEON) is poised to extend its upside movement after breaking past the resistance on strong volume.

In a trading stocks note on Wednesday, the research house said that the stock has crossed above the 21-day simple moving average line and closed above the RM1.42 consolidation zone resistance.

“Riding on the renewed momentum, it is eyeing to test the next resistance of RM1.50, followed by RM1.58.

“Conversely, breaching below the RM1.33 support will negate the bullish setup,” it said.