Padini Holdings may rise higher after it broke above the RM3.45 resistance with a long white candle. With the stock pushed higher from its rising 20-day EMA and coupled with a high trading volume, it indicates a positive signal. A bullish bias may emerge above the RM3.45 level, and the bullish momentum should lift it towards the subsequent resistance levels of RM3.78, followed by RM3.90. Towards the downside, the stop-loss is set at RM3.19 below the 17 Oct’s low.

Entry : RM3.45-3.50

Target : RM3.78, RM3.90

Exit : RM3.19

Source: AmInvest Research - 2 Nov 2022