Padini Holdings Bhd (7052)

• PADINI gained 3.2% or 11 sen to close at RM3.53 yesterday.
• Share price rebounded from its bottom recently suggesting renewed buying interest on the stock.
• Yesterday’s positive candle also sent the price to break above key moving average line with a
• bullish MACD hence we expect it to trend higher.
• From here, resistance levels are expected at RM3.69 (R1) and further to RM3.85 (R2).
• Conversely, downside support levels can be expected at RM3.26 (S1) and RM3.00 (S2).

Source: Rakuten Research - 21 Jan 2020