See link below for previous analysis.
Vodacom continued its sell-off and has reached the price target of 9070, the March 2020 low.
There is no evidence yet of any reversal so i will sit on my hands.
I will monitor price action at this level for a potential double bottom reversal.
The stock has had a major pullback since hovering near the downtrend 200d moving average and hitting a recent swing high of R110 .
Im looking for a relief bounce here towards R100. A daily close below R90 negates the idea.
Note: This is a reversion to the mean trade (countertrend).
Mean Reversion Concept:
Mean reversion suggests that asset prices will...
Vodacom (VOD) stands as South Africa's largest provider of airtime and data services for cell phones, operating as a subsidiary of the international telecommunications company Vodafone. Competing with MTN, Cell-C, and Telkom, Vodacom operates in an industry that has faced significant challenges, including a continuous decline in voice revenue, partially offset by...
Vodacom is now on the low end of a yearly cycle with price near the COVID low, this is the longest yearly decline for Vodacom. We will use the weekly chart to gauge the right entry point, we look for the following parameters:
1. A swing low (confirmed)
2. A close above the 10 week moving average (confirmed)
3. A close above the green declining resistance...
Um... Ok I did not expect that.
Look Vodacom has been going through a very tough down channel since April 2022. The high was around R160.00.
The downtrend then subsided but started moving in a very eloquent channel with highs and lows.
Well we expected the channel to hit the high and drop down to R92.00. But not in one candle suddenly.
I don't even know if...
This ongoing bear channel has been going since March 2022...
It's not been the haven for breakout traders. But an absolute beauty for trend traders and range bounded traders...
As long as the price continues in the range we could see the price head to R90 till March 2024...
Also the main indicator is the 200MA. If the price remains below it's bearish -Simple. ...
Vodacom (VOD) is South Africa's largest airtime and data provider for cell phones. It is a subsidiary of the international company Vodaphone. Its competitors are MTN, Cell-C and Telkom. The cell phone industry has been hammered by a steady decline in voice revenue which has to some extent been compensated by a sharp rise in data usage. The disadvantage which...
A price action above 10300 supports a bullish trend direction.
Increase long exposure for a break above 10500, which is also the 23.6% Fibonacci retracement level.
The target price is set at 10900, just above its 38.2% Fibonacci retracement level.
The stop-loss is set at 9800.
The trade idea is regarded as a counter-trend strategy. Adjust risk accordingly.
Vodacom is seeking a weekly and yearly low price, good entry points around this zone, we are close to COVID lows. Price has found itself back in the channel that formed from April 2022 peak, currently at resistance of the channel.
If we get a rejection we can expect price to attempt lower than R106.78, that would mean another lower risk entry, so it would make...
The stock has just printed a new 52 week low .
The chart is in a solid downtrend since losing the support zone R118-127
Next possible support is R99 which if lost opens swing low at R90.70
No position .
Vodacom was rejected at the horizontal resistance (R120) and has been selling off steadily.
Next level of support is the upward TL (blue) which is around R108. This level is also the previous lows from earlier in May this year. Tight stop loss on a close below TL.
Vodacom presents a scenario that can play out both ways while at the same time offering good reward.
- Price broke out of a falling wedge (bullish)
- Did a backtest but was resisted by the 200 week moving average
- One view is to see it in a consolidation before taking out resistance
- Second view is that price wants to dip further before going higher. This view...
Vodacom may be a good company but it has always been a horrible stock for me.
For a stock of its market, it has always displayed bad technical characteristics in terms of trends, patterns, volume etc.
The trend currently is clearly to the downside and without clear historical support, the first downside target is the March 2020 low of 9070.
Short the rallies.
Box formation formed over the last 9 months.
It was a boring range and we were waiting for a breakdown.
Which we now have and the direction chosen is DOWN.
200>21>7 - Bearish
RSI<30 - Bearish
Target R75.27
SMC - Buy Side Liquidity Order block formed above the Box Formation.
This is where Smart money has swept buying from dumb retail traders and have sold...
VOD broke up out of a Symmetrical triangle pattern and has now today come back to test the breakout level proving a good Risk to reward entry
around the R123.50 level.
Entry : 123.50
stop : 121.50
Target : R126.50
Risk to reward 2:1
