VOD Long if breaks through fractalJSE:VOD is looking good for a long position if it breaks through and confirms on the fractal.
Vodacom
VODACOM - TECHNICALS ARE BULLISH (JSEVOD)Hi Guys
So having a look at VODACOM, we may derive the following from the weekly chart:
1. The recently formed base has shown a reversal pattern (the equidistant channel).
2. The weekly down trend (pink line) has been broken - we are approaching the major downtrend (grey line).
3. A test of the orange circle or resistance is possible and a break beyond that will signal a potential bullish run.
4. If you have not bought at the bottom, then you should exercise patience before entering into a trade. Wait for a good entry.
Let's see what happens.
Disclaimer: The aforementioned information does not constitute financial advice. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Vodacom breaks through top of sideways channelJSE:VOD has broken through the top of a sideways channel that it has been trading in since the 24th of Jan. It has broken out and confirmed the upward move by closing out of the channel twice.
There is also a gap that will most likely close. Just beware that it might find some resistance at gap close.
VODACOM (VOD) DAILY TIMEFRAME LONGNever has there been so many multiple confluences on a single chart as this one. Firstly, price formed a head and shoulders pattern on the weekly chart, and tumbled down after the completion of the right shoulder and breach of the price below the the neckline. Secondly, prices have managed to stay under the neckline, which was a key psychological level at 14 000. You know how crazy people can be around round numbers. Also, the price is moving in a steady downtrend as depicted by the lower lows and lower highs and the descending trendline unmasks this. Price is now around the 12 000 key psychological area and the lower timeframes already show a rejection in the form of a bearish candle. I expect prices to continue going down. A fail-safe would be to wait for prices to approach the descending trendline and opening short position once clear signs are given.
I would like to thank all the readers and fans for showing love and supporting my content. If you want me to cover a particular asset/security, please dm me.
MTN DAILY TIMEFRAME LONGThis stock recently broke out of a descending trendline,and is currently retesting either the trendline itself or a support zone. I am of the opinion that t his stock will resume going up once enough buyers enter the market. Traders can possibly look to enter a long position at the 9 615 level, which rep [resents a support level.
$JSEVOD Vodacom basing for a bigger move?$JSEVOD released a decent set of results this morning in the face of a tough economic environment which we have witnessed locally for the last little while. Perhaps now with elections out the way and a gradual uptick in economic activity, this local counter could benefit from inflows into the SA inc sector of our market. This year we have seen price action contained within a tight range of R110-R122. It has formed an inverted Head & Shoulders formation with multiple bottoms around the R111-R112 area. If we see the stock break above the recent highs of the neckline around R122, we could see this stock off to the races to test the upper end of the larger channel which comes in at roughly R132- R133.
Bullish Reversal on VODJSE:VOD formed a Bullish Harami reversal pattern on Friday.
It has already moved upwards quite significantly today, but will most likely continue to our target level at the next resistance
LONGFundamentals and technical analysis seem to be lining up pretty well When prices breaks resistance of the wedge WE WAIT FOR Pull Back to go long!
Is The Full Correction On Vodacom Complete?Vodacom is a leading African communications company providing a wide range of communication services, including mobile voice, messaging, data, financial and converged services to over 103 million (including Safaricom) customers. From Vodacom's roots in South Africa, they have grown their mobile network business to include operations in Tanzania, the DRC, Mozambique, Lesotho and Kenya. Vodacom's mobile networks cover a population of over 284 million people. Through Vodacom Business Africa (VBA), the group offers business managed services to enterprises in 32 countries. Vodacom is majority owned by Vodafone (64.5% holding), one of the world’s largest communications companies by revenue.
Technicals
Weekly: The uptrend had to end at some point in time, what a run it was! The current correction has found strong support at the 50% Fib retracement level. I would not be surprised to see this level break and price move to the 61.8% retracement level.
Daily: The daily setup tells me that there are two possibilities. Either we have seen the whole correction and the 50% retracement level will hold or the correction will likely be even deeper than the 61.8% retracement level. If this is the case and we see the 78.6% retracement level, that would be a very significant fall in share price for Vodacom! This leads me to believe that it is more likely that we have seen the entire correction already and that we should see a reversal from here.
