Technical Focus – PADINI
Operates more than 100 retail stores, covering 1.5m sqf of gross floor area under several household brands such as Vincci, Vincci+, Vincci Accessories, Tizio, Padini Authentics, PDI, Padini, Seed, Miki and P&Co.
Improvement in retail malls footfall and adoption of digital marketing channels is expected to support earnings recovery. Equipped with a healthy balance sheet with a net cash position of RM130.2m, translating to net cash per share of RM0.20 (c.6.5% of share price). Technically, traders may anticipate for a potential flag-formation breakout above the RM3.06 level to target further upside towards the next resistances at RM3.15-3.23 with long term target at RM3.37.