Vodafone ran into a solid confluence zone of resistance in Friday. It has since retraced over 5%. Today it fell over 2.3% and, crucially, it fell below the 1:1 trendline on the Fibonacci Fan shown. This is important because this trendline has acted as the greatest source of support throughout this uptrend. In addition, there has been a bearish divergence on the...
BUY – VODAFONE (VOD)
Vodafone Group Plc is a telecommunications company. The Company's business is organized into two geographic regions: Europe, and Africa, Middle East and Asia Pacific.
Vodafone’s share price has drifted sideways to lower for the past few years, but all of a sudden, the price has risen almost 25% in 3 months. This follows the first...
My analyses of VOD Vodafone share price
1) June rise to 160p if it remains on the trend
2) September ending possible rise to 180p again if it remains within the trend
Disclaimer: this analysis is not guaranteed however highly likely historical trends and current trends
VOD might break the triangle pattern formed since 2014.
It's now below its 50 month moving average.
Stochastic also trending lower.
BUT - 200p resistance was established in 2007 and 2001, and has to break that to head lower.
I like the current dynamic of Vodafone share and the strong upwards momentum they currently have.
This is still an evolving chart so perhaps a trailing stop would be more appropriate here to avoid being hit large on any pull backs, which I would expect to be spiky like the rebound from the 190 level.
Multidiagonals currently seem to target around the 232 level.
Multiple failures around 234-235 levels followed by a sharp drop today suggests the prices could be heading lower to the symmetrical triangle floor seen around 226 levels.
Daily MACD and RSI have turned flat, while the volumes have stayed healthy. Moreover, break in volumes above 20-day average today would add credence to possibility of a drop to 226 levels.