Redtone Digital Is Resuming Its Upward Trajectory

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Redtone Digital Bhd is restarting its uptrend, according to RHB Retail Research, after it broke above the recent high of 53.5 sen on heavy volume — printing a White Marubozu candlestick.

The research house stated in a trading equities note today that if the stock remains above that level, momentum is projected to push it over the next 58 sen resistance, before perhaps reaching the multi-year high of 61 sen.

“However, this assumption will be cancelled if the price goes below the 50 sen support level,” it stated.

Published by Zack Baharum

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