VOD- Low Risk:Reward Entry Here!!!
Updated
VOD showing nice bullish divergence on the Monthly chart. TD sequential on the Monthly chart is at a 9 as well. Additionally, we are very near a nice support zone. If it breaks the support I will sell. My entry is at the ORANGE line. 100%+ gain potential!!!
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So far, VODappears to have made another touch on the descending, broadening wedge and is on the way back up. Remember, DBW has a very high probability of breaking out, I think it's around 75%+. Also, premature as it is, we may be developing a rounded bottom or cup and handle pattern. I mapped a possible scenario below. I drew the handle as a 50% retracement of the cup and retest of the DBW after breakout; they match almost perfectly. It will have to bounce here or above otherwise the cup and handle will be invalidated.
The true test will be confirmed cup/handle breakout above the resistance zone. Lots of work left for the bulls, but it as a lot of potential.
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