Highlights / Stock Picks of the Day - Redtone International Berhad ("Redtone")

Redtone's share price broke out of the symmetrical triangle pattern in the final hour of trading to end the day up 2 sen on increased volumes. The decisive close above the resistance line paints a very bullish picture from
a technical perspective, particularly with the share price having traded in sideway mode over the past three months. The indicators have all moved higher to reflect the rise, and with the RSI still  a fair distance from the
overbought zone, the share price could potentially move higher towards the end of the week. Traders should look to buy into the stock with the RM0.425 measurement objective in mind. Stop loss should be placed just
below the resistance-turned-support level at RM0.335.

Source: Kenanga