AmInvest Research Reports
Stocks on Radar - Padini Holdings
AmInvest
Publish date: Mon, 23 May 2022, 10:07 AM
AmInvest
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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)
Padini’s buying interest is back after it rose above its 20-day EMA with a long white candle on Friday. The stock also closed near its 52-week high, implying that the upside swing from the bullish engulfing pattern (red arrow) may persist in the near term. A bullish bias may emerge above the RM3.35 level, with a stop-loss set at RM3.16, below the bullish engulfing pattern support. Towards the upside, the near-term resistance level is seen at RM3.60, followed by RM3.80.
Entry : RM3.35–3.45
Target : RM3.60, RM3.80
Exit : RM3.16
Source: AmInvest Research - 23 May 2022
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