Together with the white marubozu candlestick and the breakout of the 1-month bullish triangle pattern seen yesterday indicates that Padini’s buying momentum is back. As the 20-day and 50-day EMAs have established their bullish crossover since lateOct22, the current uptrend may continue in the near term. A bullish bias may emerge above the RM3.80 level, with a stop-loss set at RM3.55, below the 50-day EMA. Towards the upside, the near-term resistance level is seen at RM4.20, followed by RM4.50.

Entry : RM3.80–3.90

Target : RM4.20, RM4.50

Exit : RM3.55

Source: AmInvest Research - 29 Mar 2023