REDtone Digital jumped and touched the RM0.465 resistance level. With its RSI indicator pointing upward, coupled with a bullish white candle stick pattern, there is a good chance that it would experience a technical breakout and head towards the short-term target price of RM0.485, followed by RM0.505. The downside support is marked at RM0.425. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy near RM0.465

Target: RM0.485, RM0.505 (time frame: 2-4 weeks)

Exit: RM0.425
 

Source: AmInvest Research - 23 Jun 2021