Through out the year of 2016, price of PADINI keeps making new record high but there's a clear head and shoulder trend form before end of 2016.
There's a clear head and shoulder trend and also some what like a Triangle shown too before the 1st QR is release. When the QR result didnt hit investors HIGH expectation, retailer most likely will start their panic sell attitude.
and Downtrend it came. But what's so bad about Padini all of a sudden???
Looking at it's QR basic report, Both Q/Q and QoQ shows that it's revenue drop like less than 10%. But mainly the reason that affect it's revenue is due to cyclical and seasonal reasons. Consumer should understand this reason especially females. (Just joking).
Reading the highlighted notes, note7 and note8. those are the reason that affected it's revenue and expenses. maybe Note7 is really a bad curse from Samsung.
I believe that PADINI next QR will be good, main reason is Christmas, New Year and Chinese New Year sales will bring good revenue to it's 2nd QR which is around mid February 2017.
SO If padini keep dropping til below my supports of 2.45 and 2.30, I might consider buying some PADINI to keep.
Note: THIS IS NOT A BUY CALL OR SELL CALL, JUST SHARING MY THOUGHTS AND RESEARCH.
