REDtone Digital may rise higher after it posted a long white candle and hit a new 52-week high yesterday. As the 20-day and  50-day EMAs have established their bullish crossover a few candles back, the upward momentum may continue soon. A bullish bias may emerge above the RM0.59 level, with a stop-loss set at RM0.54, below the 20-day EMA. Towards the upside, the near-term resistance level is seen at RM0.65, followed by RM0.70.

Entry: RM0.59-0.605

Target : RM0.65, RM0.70

Exit: RM0.54

Source: AmInvest Research - 24 May 2023