REDTone Digital is climbing higher on the back of strong momentum. Observe that the stock price is moving upwards while the trading volume is increasing. This suggests the bullish momentum is gaining traction. If the stock retains its position above the breakout point of MYR0.415, expect the momentum to lift it towards MYR0.445, followed by MYR0.465. Conversely, falling below the MYR0.40 support will negate our expectation with the emergence of a bearish bias.

Source: RHB Securities Research - 16 Aug 2022