SteynTrade

JSE:VOD Vodacom Showing Strength

Long
JSE:VOD   VODACOM GROUP LTD
After a trading range starting in mid-2018 Vodacom has had a spring-like action during the market downturn. The comparative relative strength was outperforming while other stocks were falling. There was a pause at the yearly pivot point and 200 day MA but the price was unable to push below the trading range again. Today we have seen a significant bar with some volume. Now we watch if the upper boundary of the trading range will hold or if a markup could start. We could see some consolidation before or after the break before the markup starts. Will watch how this progresses.

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