Padini Holdings Bhd (7052)

• PADINI rose 6.1% or 17 sen to RM2.94 yesterday.

• Share price rebounded from a recent low of RM2.50 and continued to climb above short-term moving average line, on the back of positive readings from the momentum indicators. This suggest higher possibility for the buying interests to be extended and thus driving share price to higher level.

• From here, resistance levels are expected at RM3.10 (R1) and further to RM3.17 (R2).

• For the downside, support levels are projected at RM2.75 (S1) and RM2.55 (S2).

Source: Rakuten Research - 19 Feb 2021