Monday, May 15, 2017

Technical Analysis May 2017: REDTONE (0032)



REDTONE INTERNATIONAL BERHAD 

Observation from Chart:-

REDTONE forming descending triangle pattern

Will it retest RM0.47 support level?

Other indicator:-
MACD at positive region, uptrend sign.
Stochastic %K on BUY call itinerary.

Immediate resistance @ RM0.52 level.
Subsequent resistance @ RM0.54 level.

Immediate support @ RM0.47 level.
Subsequent support @ RM0.435 level.

Let's watch closely.

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