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Stock With Momentum: REDtone International

TheEdge Mon, Aug 26, 2019 10:22am - 9 months ago

REDtone International Bhd (-ve)
Trading of shares in ACE Market-listed REDtone International Bhd (fundamental: 2.2/3, valuation: 0.9/3) triggered our momentum algorithm last Friday for the seventh time this year.

A total of 9.42 million shares were crossed, six times more than its 200-day average of 1.5 million shares, before the counter closed half a sen or 1.3% higher at 39 sen.

REDtone, a subsidiary of Berjaya Corp Bhd, is an integrated telecommunications and digital infrastructure services provider for organisations.

The company in June signed an agreement to develop smart farming solutions at Bangi Farm Resort in Kajang, Selangor, where it will work with Bangi Farm Resort Sdn Bhd on deploying smart farming solutions, connectivity and smart farming solutions equipment, as well as providing technical and customer care support at one of the resort’s greenhouses for a year.

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