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  • 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.
Source: PublicInvest Research - 17 Apr 2019
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