Padini may rebound further after it tested the MYR5.30 support in recent sessions. Yesterday’s white candle sent the stock to its 1-week high, thereby enhancing the bullish sentiment. A bullish bias may appear above the MYR5.60 level, with an exit set below the MYR5.30 threshold. Towards the upside, the near-term resistance is at MYR6.00. This is followed by the MYR6.20 level.

Source: RHB Securities Research - 24 Oct 2018