Redtone Digital Berhad (REDTONE, 0032)

• Share price closed 4.12% higher at RM0.445 on Monday.

• REDTONE broke up from its resistance level of RM0.43 yesterday and closed with a white marubozu candlestick. As the 5G deliberation is going to settle soon and with indicators showing uptick momentum, the share price is poised to go higher.

• Resistance levels are identified at RM0.455 (R1) and RM0.48 (R2).

• On the flipside, support levels are pegged at RM0.41 (S1) and RM0.405 (S2).

Source: Rakuten Research - 13 Sept 2022