KUALA LUMPUR (Sept 8): RHB Retail Research said REDtone Digital Bhd is set for an uptrend reversal after it broke away its six-week consolidation zone on surging trading volume.
In a trading stocks note today, the research house said the “higher high” pattern above the 45.5 sen breakout level indicates a bullish bias has emerged.
“The bulls may eye to test the next resistance at 50 sen, followed by 55 sen.
“However, falling below the 43.5 sen support may signal a downtrend,” it said.