REDtone International was testing the RM0.56 resistance price in its latest session with higher trading volume. With the momentum indicator RSI above 50%, the short-term rebound could reach a target price of RM0.59, followed by RM0.62. If it fails to cross the RM0.56, it will continue to move sideways and consolidate. The support price is anticipated at RM0.50 whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM0.56
Target: RM0.59, RM0.62 (time frame: 3-6 weeks)
Exit: RM0.50

Source: AmInvest Research - 13 Dec 2019