Bursa Malaysia (KLSE) Stock Investment Portal

Redtone - Stay Tune for the Tone

Author: bonescythe | Publish date: Tue, 16 Jul 23:43 | >> Read article in Blog website
Property and Oil & Gas sector is the darling of investor in market for the moment, but there is still some counter awaiting to explode in other industry as well. I believe there will be something to be announce in Telco sector base on what I can see on the movement of the share price. But which Telco counter to punt in? Of course I am not going to pick those heavyweight, perhaps those small player of the industry will have a better potential.

Gpacket, had try to break it's resistance at RM 0.45 and now is consolidate at it strong support currently. Another company in this similar industry, a solution provider of broadband and wifi for organisation, being one of the major wifi infrastructure builder in the country now has caught my attention on it. The recent spike on the share price is mainly due on the transaction of the Royal Family of Johor and Tan Sri Vincent Tan.

Before the activities of Tan Sri VT and Royal Family of Johor being transacted, the share price is building up slowly with relatively increasing volume compare with previous 3 months. Is this what the director trying to do before they sell their stake off? Well, the person they dealing with is VT one of the major player in the market. Don't mess up with him and never ever try to do so.

Let me show you on the chart to get a better idea on the recent activities.

The share price is trading in the range of RM 0.685 to RM 0.72 with immediate support at RM 0.65. With low volume transacted for the past 6 weeks, it seems tend to get out of the sight of public. When the volume return with around 7 million shares transacted, I believe it the time for the share price to wake up as well. I expecting the share price will be recording a new high again at RM 0.80 and climbing back to RM 0.98 in coming weeks.

Cheers and Happy Trading,

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Stock: [REDTONE]: REDTONE DIGITAL BERHAD

2013-07-16 23:47 | Report Abuse

Yes, I think Quarter report will be better, trust the research house!

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Stock: [REDTONE]: REDTONE DIGITAL BERHAD

2013-07-16 21:34 | Report Abuse

God bless us tomorrow and for REDTone :)

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Stock: [REDTONE]: REDTONE DIGITAL BERHAD

2013-07-16 19:35 | Report Abuse

Looks like they already clear all their Treasury Shares to 0 now! No more outstanding

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Stock: [REDTONE]: REDTONE DIGITAL BERHAD

2013-07-16 19:35 | Report Abuse

Notice of Resale/Cancellation of Treasury Shares - Immediate Announcement
REDTONE INTERNATIONAL BERHAD

Date of transaction 16/07/2013
Currency Malaysian Ringgit (MYR)
Total number of treasury shares sold (units) 827,800
Total number of treasury shares cancelled (units) 0
Minimum price paid for each share sold ($$) 0.735
Maximum price paid for each share sold ($$) 0.735
Total amount received for treasury shares sold ($$) 606,225.17
Cumulative net outstanding treasury shares as at to-date (units) 0
Adjusted issued capital after cancellation/resale
(no. of shares) (units) 0

Remarks :
The balance of the treasury shares held by the Company is Nil.

Announcement Info
Company Name REDTONE INTERNATIONAL BERHAD (ACE Market)
Stock Name REDTONE
Date Announced 16 Jul 2013
Category Notice of Resale/Cancellation of Treasury Shares - Immediate Announcement
Reference No CK-130716-1B23E