RHB Retail Research
Technical Analysis - Padini
Padini may rebound further after it tested the MYR3.68 support in its latest session. Given that the stock formed a “Hammer” pattern on 10 Dec, this indicates a potential rebound. A bullish bias may appear above the MYR3.68 level, with an exit set below the MYR3.68 threshold. Towards the upside, the near-term resistance is at MYR4.20. This is followed by the MYR4.43 level.
Source: RHB Securities Research - 11 Dec 2018
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