REDtone Digital’s uptrend was resumed after it broke past the resistance, thereby confirming a bullish setup. The counter climbed above the MYR1.05 resistance to form a fresh “higher high” bullish candlestick. Meanwhile, the 21-day SMA line is pointing upwards, indicating that the short-term trend is bullish. Riding on the momentum, the counter should travel towards the next resistance of MYR1.15, followed by the MYR1.25 level. On the flip side, falling below the MYR0.985 support will negate the bullish setup.
 

Source: RHB Securities Research - 10 Jun 2024