Redtone may climb higher, says RHB Retail Research

Redtone may climb higher, says RHB Retail Research
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KUALA LUMPUR (June 27): RHB Retail Research said Redtone International Bhd may climb higher after forming a long white candle and leaving an upside gap.

In a trading stocks note today, the research house said in view that the 21-day SMA line is likely to begin turning upwards, this also implies a positive outlook sentiment.

“A bullish bias may appear above the 34 sen level, with an exit set below the 30 sen threshold.

“Towards the upside, the near-term resistance is at 38.5 sen. This is followed by the 40 sen level,” it said.