REDtone International was testing the resistance price RM0.32 again in its latest session with higher trading volume. With the momentum indicator RSI above 60%, the short-term rebound could reach a target price of RM0.355, followed by RM0.39. If it fails to cross the RM0.32, it will continue to move sideways. The support price is anticipated at RM0.285 whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM0.32

Target: RM0.355, RM0.39 (time frame: 3-6 weeks)

Exit: RM0.285

Source: AmInvest Research - 17 Apr 2019