Padini surged on higher trading volume, says RHB Retail Research

Padini surged on higher trading volume, says RHB Retail Research
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KUALA LUMPUR (Feb 24): RHB Retail Research said Padini Holdings Bhd surged further on higher trading volume yesterday.

In a trading stocks note today, the research house said a bullish bias emerged above the resistance level of RM2.98.

“With trading volume trending upwards, we believe the bullish momentum is gaining traction and it may lift the stock towards the next resistance level of RM3.17, followed by RM3.35.

“Meanwhile, a downward breach of the RM2.80 support will negate this expectation,” it said.