- Target Price: RM0.365, RM0.390
- Last closing price: RM0.320
- Potential return: 14.0%, 21.8%
- Support: RM0.290
- Stop Loss: RM0.280
Possible for further upside. REDTONE
picked up its prior uptrend yesterday. Improving MACD and RSI
indicators currently signal reasonable entry level, with anticipation of
continuous improvement in both momentum and trend in near term. Should
resistance level of RM0.335 be genuinely broken, it may continue to lift
price higher to subsequent resistance levels of RM0.365 and RM0.390.
However, failure to hold on to support level of RM0.290 may indicate weakness in the share price and hence, a cut-loss signal.
