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
Vodacom has been trading in a range between 120 - 135. Currently near the bottom of the range which looks like a good area for a long. Stop loss on a close below 116.
I mean...
I guess it's ok for range bounded trading.
Buy at the bottom of the range and sell at the top (short) then swing the other way.
But I guess more importantly, the bigger the range the bigger the Order Block is for when the price breaks out.
There are two Order Blocks that Smart Money will sweep.
Buy Side LIquidity - Where it could sweep it all the...
One of the charts from my note this morning.
Monthly Chart: Can't clear 135, risk sub-116.
I also published charts on Dis-Chem, Mr Price Truworths and Bid Corp.
If interested and for more research insights, including trade ideas, get in touch today.
Price continues to grind inside the support zone . (Range)
Daily printed some good volume yesterday and the MACD continues to curl up on the weekly (Positive)
JSE:VOD has triggered a long position. This is based off of the stochastic, MACD and EMA's crossing upwards. We are looking at a target at the highs from the end of July 2022.
Vodacom has had a super rally off the back of recent news.
Price currently working on a down trendline, a breakthrough here could open up a decent leg up to next level of R144
I recently covered Vodacom on the 4th of December giving a bullish continuation channel setup.
Breakouts from such channels tend to be more reliable when they occur on high volume.
High volumes tend to have more significant meaning when they come from institutions based on changes in fundamentals or there is new news flow.
Vodacom certainly ticks all these...
Vodacom stock is not the most exciting share to trade as it is lethargic and does not produce the best technical patterns or wave counts.
A 80% price appreciation from the March 2020 lows has been followed by a currently 29% decline.
Though this decline can be classified as a bear market, there are early signs of a potential turn around.
The price action has been...
Relative performance and relative strength is meant to assist traders and investors in understanding the appropriate weighting/positioning versus the overall market. Combined with additional factors, a trader is able to determine whether they should hold an equal weight, underweight and overweight position versus the index. The data below represents the relative...
- Following on from the long idea poste don the 25/10/2022 (link below)
- Price came just shy of the R128 first target
- It will be important to see what price action develops here to see if this leg up can be sustained.
Vodacom has reached a key level of interest R118-108 where i'm looking to take a long position.
It also coincides with the 200wma and yearly S1 pivot. Oscillators in oversold territory.
We could possibly see a bounce first up to R128 then R144 if the zone holds.
A daily close below R108 would be viewed as bearish with next support being around R100
While Telkom is looking Bullish, I can't say the same with Vodacom....
Head and Shoulders pattern formed and broke down.
Bearish
Target R98.16. What are your thoughts?
Vodacom group has traded on a loss of 10% last month (August) and we have seen the breakout of a bearish engulfing candle on a bearish channel and thus indicating more weakness on the stock. Comment your views below
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