Vodacom is approaching the top line resistance within a bear flag. Some might even call it a "consolidation" pattern. With the RSI pretty much in no man's land I am looking to short any bounce near R120.00 or better. A break above this "sideways" pattern would be considered bullish and that would be my signal to exit the trade and take a stop loss. With multiple resistance zones near that level where bounces regularly get sold, I expect more of the same. My target for now is R112.55. Let's see what happens...
Comment:
We are now short at 119.32