- PADINI announced profit before tax ("PBT") dropped by 42% on 29.11.2018.
- After the announcement, PADINI shares price decreased by 42.68% with panic sales from RM5.385 to RM3.350 within 12 trading days.
- There is Hammer (Point A) appeared on 17.12.2018 which indicated buying force in market to support PADINI shares prices with huge transactions volume (Highest in past 6 trading days).
- RSI and MACD become bullish and buying force overcome selling pressure on 18.12.2018. Thus, panic sales section seen over.
- Based on Fibonacci Retrenchment pattern, there is immediate resistance point at RM3.703 and support point RM3.150. PADINI is entering a consolidation phases.
- Resistance, R2: RM3.935
- Resistance, R1: RM3.660
- Support, R1 : RM3.410
- Support, R2 : RM3.150