pseng88
Long

$vod breakout lookout

NASDAQ:VOD   VODAFONE GROUP
-long term trend- uptrend and showing strength
-intermediate timeframe shows trend is in an uptrend but slightly flattening
-volatility is contracting.. pressing up on resistance area of 29.9x
-not paying too much attention to rsi here because of stock showing strong trend strength.
-positive volume pressure being applied
-shorter timeframe is showing price action in a symmetrical triangle with a .20 measured move- which would lead to the break of resistance area up to 30.0x
-cautious to the possibility of a false breakout- entry at 30.05 and setting stop at 29.71 gap low
-once resistance is broken extension level/profit target set at the .618 level of 31.67

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