REDtone International may soon retrace its path to test the RM0.44 level. If this happens, the RSI indicator may drop below 30% and the stock becomes oversold. This indicates that there is a possibility it will experience a technical rebound towards the short-term target prices of RM0.475 and RM0.485. The downside support is anticipated at RM0.415, whereby traders may exit on a breach to avoid the risk of a further correction.
Trading Call: Buy on pullback near RM0.44
Target: RM0.475, RM0.485 (time frame: 3-6 weeks)
Exit: RM0.415
Source: AmInvest Research - 28 Feb 2020
Chart | Stock Name | Last | Change | Volume |
---|
Created by AmInvest | Sep 05, 2024