Padini Holdings jumped and touched the RM2.97 resistance level. With its RSI indicator pointing upwards, coupled with a higher trading volume, there is a good chance that it may break out and head towards a shortterm target price of RM3.10, followed by RM3.19. The downside support is marked at RM2.75. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM2.97

Target: RM3.10, RM3.19 (time frame: 2-4 weeks)

Exit: RM2.75

Source: AmInvest Research - 15 Dec 2020