Bursa Master
REDTONE - THE TRADING PATTERN OF THIS COUNTER CAUGHT MY EYES TODAY
BURSAMASTER
Publish date: Tue, 16 Apr 2019, 06:16 PM
I spotted an abnormal increased activity in REDTONE trading pattern today where the volume transacted is raised more than normal daily the average volume and price made a a gain of 3 cts.
The trading pattern of trade today suggest investors/ punters enthusiasm to take the price higher as it closed at the day's high just a little short of its 52-week high of 0.335.
Monitor for breakout of immediate resistance at 0.335 which is the 52-week high. Once broken conclusively...we could see a much higher level being reached; i foresee a level of 0.350 to 0.370. The average traded price today is 0.3110 which is quite high towards the day's closed of 0.320. The closing quote is 0.320/ 0.325 with 510200/ 200700 shares on cue.
Hopefully the enthusiasm today should carry the price higher tomorrow.
My views is just my observation of the trading pattern today...not knowing any internal developments or corporate moves in store for the company and furthermore i read an interesting blog write up which i will share here.
P/S : The above opinion is just my observations; I am not giving a BUY/SELL call here; purely to share my observations
Regards
BURSAMASTER
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