VOD - Cup & Handle?We may derive the following from the Daily VOD chart:
1. Price was slightly bullish last week and appears to have formed a "cup and handle" pattern.
2. It is probable that price may drop for a bit and then return to test the neckline before a potential breakout.
3. Monitor price action and be patient before trading.
4. As always - maintain your risk.
Note: The views provided herein do not constitute financial advice.
VOD trade ideas
Vodacom Trade Idea (Short Term View)Vodacom Trade Idea:
Previously we had flagged 11625c as a buy/long level. The price has since run up strongly and I think it may be time to reverse course as the share trades at resistance, appearing overextended in the short term.
Category: Short Term Active
Trading Plan:
Short/Sell VOD at current levels 12719
Use a stop-loss of 12950 to protect capital
Take profit at or near 12270
VOD - Never Doubted VodacomWe may derive the following from the Weekly VOD chart:
1. Price has held above the major downtrend.
2. Price should continue to rise.
3. Monitor price action and look out for further long opportunities.
4. As always - maintain your risk.
Note: The views provided herein do not constitute financial advice.
VOD heading lower?Lower Bollinger Band crossover with an indication of low volatility. Keep in mind that the best technical breaks usually developed from periods of low volatility.
Bearish MACD crossover below the zero-line.
Decreasing trajectory on the OBV - money is leaving the share.
The only concern is the RSI oversold territory which is around 11125, leaving limited downside capabilities.
VOD - Don't give up so soonWe may derive the following from the Weekly VOD chart:
1. Price was rejected by our major trend (grey trend) (See linked idea).
2. However, price has/is holding at our backtest level.
3. A further bid may help push the price up.
4. Monitor for bullish action and a break of the channel trend.
5. As always - maintain your risk.
Note: The views provided herein do not constitute financial advice.
Update idea