KUALA LUMPUR (August 16): RHB Retail Research said REDTone Digital Bhd is climbing higher on the back of strong momentum.

In a trading stocks note today, the research house said that the stock price is moving upwards while the trading volume is increasing.

“This suggests the bullish momentum is gaining traction.

“If the stock retains its position above the breakout point of 41.5 sen, expect the momentum to lift it towards 44.5 sen, followed by 46.5 sen.

“Conversely, falling below the 40 sen support will negate our expectation with the emergence of a bearish bias,” it said.