RHB Retail Research
Technical Analysis - Padini
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Padini formed a long white candle, indicating that the buying momentum could be strong. This close sent the stock to its new 52-week high, thereby enhancing the positive sentiment. A bullish bias may emerge above the MYR5.74 level, with an exit set below the MYR5.50 mark. Towards the upside, the immediate resistance is at MYR6.50. This is followed by the MYR7.00 level.
Source: RHB Securities Research - 29 Jun 2018
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