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PublicInvest Research

Author: PublicInvest   |   Latest post: Thu, 18 Apr 2024, 10:06 AM

An official blog in I3investor to publish research reports provided by PublicInvest Research team.

All materials published here are prepared by Public Investment Bank Berhad. For latest offers on Public Invest trading products and news, please refer to: https://www.publicinvestbank.com.my/pbswecos/default.asp

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Technical Buy - REDTONE (0032)

Author:   |    Publish date:

  • Target Price: RM0.460, RM0.485
  • Last closing price: RM0.435
  • Potential return: 5.7%, 11.4%
  • Support: RM0.430
  • Stop Loss: RM0.410

Possible for sideways breakout. REDTONE is potentially staging a breakout from its sideways channel, with anticipation of continuous improvement in both momentum and trend in the near term. Should immediate resistance level of RM0.460 be broken with renewed buying interest, it may continue to lift price higher to subsequent resistance level of RM0.485.

However, failure to hold on to support level of RM0.430 may indicate weakness in the share price and hence, a cut-loss signal.

Source: PublicInvest Research - 14 Apr 2022

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Labels: REDTONE

Related Stocks

Chart Stock Name Last Change Volume 
REDTONE 0.935 -0.01 (1.06%) 516,500 

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