REDtone International jumped on the back of higher trading volume, and tried to break out from the immediate resistance marked at MYR0.385. Since January, trading volume has been rising – which indicates strong buying interest. A successful breakout from the resistance will see the stock scaling higher to test the next hurdle of MYR0.41, followed by MYR0.44. A downside breach of the MYR0.355 support would negate this expectation, and trigger a stock price correction.

Source: RHB Securities Research - 10 Feb 2021