RHB Retail Research
Trading Stocks (mid-day) - Padini
At the time of writing, Padini was holding below the MYR2.50 resistance. If a decisive breakout occurs, a bullish bias may be present above this point, with a target price of MYR2.76, followed by MYR3.08. The stock may consolidate further if it cannot decisively breach above the MYR2.50 mark in the coming sessions. Support may be found at MYR2.25, where traders can exit upon a breach to limit the downside risk.
Source: RHB Securities Research - 30 Apr 2020
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