Author: UOBKayHian | Publish date: Wed, 21 Jun 2017, 09:52 AM • Technical BUY on breakout with +27.1% potential return • Last price: RM0.455 • Target price: RM0.565, RM0.61 • Support: RM0.425 Stop-loss: RM0.42
BUY on breakout with a target price of RM0.61 and stop-loss at RM0.42. Based on the daily chart, share price is recovering gradually and has moved above the 7- and 21-day EMAs after a huge drop from the previous high of RM0.615. This was supported by the rising DMI and RSI indicators, which indicate that the positive momentum will strengthen in the near term. We expect the stock to continue moving towards our targets at RM0.565 and RM0.61 once it manages to penetrate the breakout level of RM0.48.
Stock: [REDTONE]: REDTONE DIGITAL BERHAD
2017-06-23 12:43 | Report Abuse
Traders' Corner - Redtone International (RIB MK)
Author: UOBKayHian | Publish date: Wed, 21 Jun 2017, 09:52 AM
• Technical BUY on breakout with +27.1% potential return
• Last price: RM0.455
• Target price: RM0.565, RM0.61
• Support: RM0.425 Stop-loss: RM0.42
BUY on breakout with a target price of RM0.61 and stop-loss at RM0.42. Based on the daily chart, share price is recovering gradually and has moved above the 7- and 21-day EMAs after a huge drop from the previous high of RM0.615. This was supported by the rising DMI and RSI indicators, which indicate that the positive momentum will strengthen in the near term. We expect the stock to continue moving towards our targets at RM0.565 and RM0.61 once it manages to penetrate the breakout level of RM0.48.