PADINI (Not Rated). PADINI surged 16.0 sen (4%) yesterday, closing at an all-time high of RM4.17 with a white “Marubozu” candlestick as bulls dominated the session. In a continuation of its move higher, the share has been steadily leading all key SMAs upwards throughout the consistent uptrend. Meanwhile, the MACD and RSI have been displaying fairly neutral signs with no sign of the share turning bearish. However, one should take note of the tapering volumes, which may signal a slowdown in buying interest. From here, we expect the share price to trend higher towards its overhead resistance at RM4.27 (R1), with another resistance higher up at RM4.51 (R2). Conversely, a support-turned-resistance can be found at RM3.51 (S1), while a break below could see another resistance further down at RM3.27 (S2).

ROHAS (Not Rated). ROHAS’ share price gained 9.0 sen (7.6%) yesterday to finish at 6-month high of RM1.27 on increased trading volume of 2.9m shares. The counter has been trading on an uptrend movement since end of January and yesterday’s move signals the continuation of the trend forming a higher high. Consequently, the MACD has also crossed above its Signal-line, reflecting this sudden pick-up in momentum. From here, we expect a move towards the next resistance levels of RM1.38-RM1.40 (R1) and possibly RM1.47-RM1.50 (R2) while downside support levels are RM1.12 (S1) and RM1.03 (S2) below.

Source: Kenanga Research - 16 Aug 2017