Padini may rise higher after it formed a second consecutive white candle. Yesterday’s white candle can be viewed as a continuation of the bulls extending the rebound from 17 Dec’s “Hammer” pattern. A bullish bias may appear above the MYR3.50 level, with an exit set below the MYR3.15 threshold. Towards the upside, the near-term resistance is at MYR3.95. This is followed by the MYR4.40 level.

Source: RHB Securities Research - 20 Dec 2018