Rakuten Trade Research Reports
Technical View - Redtone Digital Bhd (REDTONE, 0032)
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Publish date: Thu, 27 May 2021, 12:18 PM
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All materials published here are prepared by Rakuten Trade. For latest offers on Rakuten Trade products and news, please refer to: https://www.rakutentrade.my/
To sign up for an account: http://bit.ly/40BNqKI
Rakuten Trade
Hotline: +603 2110 7110 (Account Opening, General enquiry)
Email: customerservice@rakutentrade.my
Redtone Digital Bhd (REDTONE, 0032)
• REDTONE ended 2.2% or 1 sen higher to RM0.465 on Tuesday.
• REDTONE is trading within the ascending channel and above key moving average lines. Share price has recently rebounded from the lower ascending trend line
implying healthy level of buying interest. With such buying momentum, share price is likely to climb higher.
• Resistance levels are set at RM0.495 (R1) and further to RM0.505 (R2).
• Conversely, support levels are identified at RM0.435 (S1) and next at RM0.425 (S2).
Source: Rakuten Research - 27 May 2021
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