Value buy: swing trade long

LSE:VOD has been in a steady decline since 26 July 2022 declining 16.62% from VRVP point of control.

The price is hitting old support, accumulation levels over the past 2 years and is highly reluctant to break through. Also, price at 106.64 has entered Medium volume VRVP Nodes with not much institutional interest to push the price levels into low level nodes. Average closing price is at 123.98, similar to the point of control over the visible range.

As confirmation, the MACD indicator momentum histogram has been slowing and there has been a crossover. All indicating bearish momentum is slowing/stopped at this current price.

This current level seems to be a value purchase. I estimate the fair value is at least 9% higher than current levels: 116.10.

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.