Padini set to bounce higher, says RHB Retail Research

Padini set to bounce higher, says RHB Retail Research
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KUALA LUMPUR (Oct 14): RHB Retail Research said Padini Holdings Bhd is set to bounce higher as it moved past the immediate resistance of RM3.13 on improved volume on Wednesday.

In a trading stocks note on Thursday, the research house said bullish momentum above that level is expected to follow through, to propel the stock towards the RM3.37 resistance, followed by RM3.50.

“Meanwhile, if it falls beneath the RM3.05 support, the momentum may dissipate,” it said.