RHB Retail Research
Technical Analysis - Padini
Padini’s buying momentum may have returned after it rose above the 21-day SMA line. The upward momentum is likely to continue, given that it has breached above the downtrend line drawn in the chart. A bullish bias may emerge above the MYR5.60 level, with an exit set below the MYR5.30 threshold. Towards the upside, the immediate resistance is at MYR6.00. This is followed by the MYR6.20 level.
Source: RHB Securities Research - 12 Nov 2018
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