REDtone International has surged past the resistance level of RM0.505 in the latest session wth higher trading volume. With the momentum indicator RSI trending up, there is a possibility the momentum will continue to propel towards the target prices of RM0.545 and RM0.575. The immediate support is anticipated at RM0.475, whereby traders may exit on a breach to avoid the risk of a further consolidation. Trading Call: Buy on continuation above RM0.505
Target: RM0.545, RM0.575 (time frame: 3-6 weeks) Exit: RM0.475
Source: AmInvest Research - 5 Feb 2020
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Created by AmInvest | Nov 25, 2024