Padini continued to remain above MYR3.15 support in its recent trades, indicating a positive sign. Given that the stock has formed a “Hammer” pattern on 17 Dec 2018, this indicates a potential rebound. A bullish bias may appear above the MYR3.45 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 - 7 Jan 2019