Padini Holdings Bhd (PADINI, 7052)

• Share price closed 2.0% higher at RM3.09 on Friday.

• PADINI has broken out above the neckline of its double bottom pattern since last Thursday with high trading volume. It is now trading above all its key moving averages.

• Backed by upticks in its indicators and bullish signal from MACD indicator, PADINI is poised to move higher.

• Resistance levels are identified at RM3.23 (R1) and RM3.38 (R2).

• On the flipside, support levels are pegged at RM3.01 (S1) and RM2.93 (S2).

Source: Rakuten Research - 21 Feb 2022