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.
Vodafone shares have breached a long-term rising trend line. We are still away from November close. Prices could drop to 150 area over Q1, 2017 if the monthly candle does confirm a bearish break.
The monthly MACD also shows the bearish momentum is gathering pace, while the RSI too has slipped below 50.00 levels.
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...
in continuation of my previous post:
Based on dailies, I'm showing a reoccurring 3-5 day retracement after every 6 or so push up. With that (and the macd, stoch, cci, and rsi), I'm continuing to assume a short position for the next day at least.
Long term, there might be a swing back as I note with the ABC line.
Let me know your thoughts
My data miner is showing high probability, based on last 20 years, of VOD going up
Longterm neutral Andrew's Pitchfork at roughly 33.50;
Shortterm schiff's pitchfork bullish (and below price action);
Showing strong support/resistance at fibonacci levels
ActionReaction showing a downtrend yet realized that should end around 4/22.
Fib Arcs showing strength by...
Breaking out of a bull flag(ish) structure after finding support at the 200DMA 3 times.
Open 3 positions for the two main targets with an additional position for continuation. Move stops to protect positions once price has cleared them.
Good Luck!
Combination of bottom trend line touch, resistance level touch, and oversold long and short stochastics. I am initiating a long position around 32.20 level.
NEWS. Vodafone in multimillion-pound tax settlement with U.K., Guardian says. (8:51p/est). Not certain what this story will do to the name, but I have a few trader friends that follow. This will probably lead the Dear BeautyBubble segment for Monday, so keep an eye out for the question and answer. Sincerely, Beauty
