Vodacom showing strong upside after CUp break to R140.37Cup and Handle has formed on the daily.
The pattern has formed since May 2023 and only now recently it's broken up.
SO this is a massive analysis and a High probability analysis whiich is likely to work out.
Also the Price>20 and 200
So the first major target is at R140.37
Vodacom
Poor vodacom - Target hit at R92.00 but very unexpectedlyUm... Ok I did not expect that.
Look Vodacom has been going through a very tough down channel since April 2022. The high was around R160.00.
The downtrend then subsided but started moving in a very eloquent channel with highs and lows.
Well we expected the channel to hit the high and drop down to R92.00. But not in one candle suddenly.
I don't even know if there was enough liquidity to get most people out, but here we are.
So the channel will continue until it breaks. And Range Bounded traders will be thrilled to continue profiting going long and short.
Are you?
Vodacom bear channel thrives to R90.00This ongoing bear channel has been going since March 2022...
It's not been the haven for breakout traders. But an absolute beauty for trend traders and range bounded traders...
As long as the price continues in the range we could see the price head to R90 till March 2024...
Also the main indicator is the 200MA. If the price remains below it's bearish -Simple.
Target R90.00
Vodafone Hopes Sale Of Spanish Unit Will Ring In Turnaround Two decades ago Vodafone was riding high, pulling off a blockbuster takeover with its 2000 acquisition of German rival Mannesmann in a deal worth £113bn. Now the UK-based telecoms group is making headlines for its retreat, after announcing this week it will exit Spain, one of its main European markets, selling its business there for up to €5bn to a fund founded by two former Virgin Media executives. The retrenchment represents both a humbling for the telecoms group and what investors hope signals a fresh start following years of a languishing share price.
Price Momentum
VOD is trading near the bottom of its 52-week range and below its 200-day simple moving average. Investors have been pushing the share price lower, and the stock still appears to have downward momentum.
Vodacom Boring range broken down - Target to R75.27Box formation formed over the last 9 months.
It was a boring range and we were waiting for a breakdown.
Which we now have and the direction chosen is DOWN.
200>21>7 - Bearish
RSI<30 - Bearish
Target R75.27
SMC - Buy Side Liquidity Order block formed above the Box Formation.
This is where Smart money has swept buying from dumb retail traders and have sold into it, causing strong downside.
Vodacom in no mans land but watch out for BIG Order BlocksI mean...
I guess it's ok for range bounded trading.
Buy at the bottom of the range and sell at the top (short) then swing the other way.
But I guess more importantly, the bigger the range the bigger the Order Block is for when the price breaks out.
There are two Order Blocks that Smart Money will sweep.
Buy Side LIquidity - Where it could sweep it all the buying where they will sell and bring the price down.
Sell side liquidity - where it could seep it all the sells where they will buy to bring the price up.
UNtil we have a confirmed Break above SSL or BSL - it's going range bounded until then.
Hammer Harami on VODJSE:VOD formed a hammer candle on the 13th of September which also happens to form part of a bullish harami pattern. Both are strong bullish signals. I think we could see a move up to at least the previous high at around 14500. If it breaks through this level and confirms we could see a continuation to form even higher highs.
Vodacom Bull FlagPlease give me your feedback - this is my first published TradingView Idea.
Bull flag on the VOD daily.
The bottom of the channel seems to have found support from the 200 EMA, which has been in an uptrend since the formation of the channel.
First target 13436
Next target 13554
Longer term target 14279
Vodacom - Bearish Engulfing candle pattern formingThe market doesn't seem to have reacted well to the restructuring of JSE:VOD today and has formed a massive bearish engulfing candle with today's move. Along with this, it has broken the upward trend it has been following since mid March. If it trades lower tomorrow, I might consider a short position.