REDTONE International Bhd (code: 0032) has been on a winning trend over the third quarter of 2018, retracing some of the steep losses it saw during the first quarter of the year.

The stock had come off a year’s high of 42.5 sen at the start of the trading year, plummeting to a low of 21 sen by April 4.

Ever since it reached bottom, the counter entered consolidation mode and saw signs of life in early May before pulling back and resuming a sideways movement.

It wasn’t until the final week of July that some sustained momentum came into the picture, triggering the start of a rally that would see the stock cross the uppermost 200-day simple moving average (SMA) for the first time since December 2017.

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