We believe the buying momentum on Padini is back following its breakout above the RM3.20 resistance two sessions ago. With a new 52-week high coupled with its rising EMAs, additional upside strength may be present in the near term. An upbeat bias may emerge above the RM3.20 level, with a stop-loss set at RM3.12, below 24 Feb’s low. On the upside, the near-term resistance level is seen at RM3.60, followed by RM3.80.
 

Entry: RM3.20–3.36
Target: RM3.60, 3.80
Exit: RM3.12
 

Source: AmInvest Research - 28 Feb 2022