Rakuten Trade Research Reports
Technical View - Padini Holdings Bhd (PADINI, 7052)
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Publish date: Mon, 16 Mar 2020, 01:04 PM
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All materials published here are prepared by Rakuten Trade. For latest offers on Rakuten Trade products and news, please refer to: https://www.rakutentrade.my/
To sign up for an account: http://bit.ly/40BNqKI
Rakuten Trade
Hotline: +603 2110 7110 (Account Opening, General enquiry)
Email: customerservice@rakutentrade.my
Padini Holdings Bhd (7052)
• PADINI closed lower by 3.6% or 10 sen to RM2.70 last Friday.
• Share price hit its 52-week low of RM2.55 in previous trading session before rebounded to current level. This could suggest the buying interest has emerged supported by higher trading volume and the stock has entered the oversold phase based on technical indicators.
• As such, we expect the rebound to continue should the buying momentum persist.
• From here, resistance levels are expected at RM2.92 (R1) and further to RM3.15 (R2).
• On the contrary, support levels are identified at RM2.55 (S1) and RM2.40 (S2).
Source: Rakuten Research - 16 Mar 2020
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