PADINI trade ideas
PADINI 7052 MYX 18/3/21Study...based upon Volume Price Spread Analysis and Momentum
Padini has shown both Breakout and Momentum.
Close: 3.14
EP: 3.07 - 3.20
SL: 2.76
TP: 3.38 / 3.69/3.89
Disclaimer: This study does not constitutes Buy/Sell per say. Please consult your financial advisor before making any trading/investing decision
'Window' ShopPADINI has recently made significant bullish movement this month, breaking a valid downtrend line and price has recently close above 50-period MA in weekly timeframe. Our short term target is at 3.1. Exit below 2.0
Disclaimer: The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Padini - Net Cash + 3Q Rpt up 5.7%Padini share price just cross up Moving average 200 days and 3rd quarter report earning up 5.7%.
Also is sign of earning recovery.
(Disclaimer: for demonstrate own planned trade records study only and education purpose, not for recommend to buy or sell. Trade at your own risk)
Below 20MA , Descending TriangleTechnically, it is not looking good for PADINI as its 20-Day Moving Average is sloping downward and its price action is below the Moving Average line.
Furthermore the support level is still quite far at 2.01.
Descending Triangle identified at 3 Aug 20.
This pattern is still in the process of forming.
Possible bearish price movement towards the support within next 49 days (ETA 21 Sep 20)
Resistance 1 : 2.45
Resistance 2 : 2.21
Support : 1.990
Resistance Breakout : 2.070 (13 Apr 2020)