PADINI (7052): Bullish

Pattern: Cup & Handle Breakout

Based on PADINI's weekly chart above, it formed a cup and handle pattern with strong impulse up move in Feb 2017. Subsequently, it consolidated for a few weeks to form the handle and broke out yesterday.

A clearer picture of the cup & handle pattern is shown on PADINI's daily chart above. Based on the volume flow and the price action, PADINI is a strong bullish stock.

Based on the cup and handle pattern and the AB=CD pattern (which is not shown above), the target prices for PADINI are 3.75 & 4.20.

I am bullish on PADINI when it stays above 2.70.

Leave me a comment below and let me know what you think. If you have any queries or want to share the next big stock with me, feel free to contact me via my email or FB page below.

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Cheers,

Ming Jong

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