This is a personal weblog, reflecting my personal views and not the views of anyone or any organization, which I may be affiliated to. All information provided here, including recommendations (if any), should be treated for informational purposes only. The author should not be held liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein.
Tuesday, July 18, 2017
Padini: Possible Bullish Breakout
Padini may have a bullish breakout at RM3.65. Its immediate target could be RM4.00. For those who are keen to trade this breakout, I would suggest that you stagger your entry by buying in 2-4 tranches between RM3.70-3.80. A pullback to RM3.70 is possible but a drop below the breakout level of RM3.65 should be a warning that the play is over. (Note: Padini is at RM3.75 as ta 4.40pm.)
Chart: Padini's daily chart as at July 18, 2017_4.30pm (Source: Shareinvestor.com)