LONGFundamentals and technical analysis seem to be lining up pretty well When prices breaks resistance of the wedge WE WAIT FOR Pull Back to go long!
VOD trade ideas
VODACOM : JSE5 bearish wave motive completed, now we trade the correction thereof to complete the impulse.
Vodacom Group (VOD) - Positive Short Term Price Action The telecommunications sector is fraught with pressures (lack of strong revenue growth, regulation, consumer, price cuts). Continual investment into it's networks also sees capex rising albeit cash flows are stable. VOD (115.96) has been under pressure since it's last trading update, declining from a peak of 136 to it's recent lows of 111. The recent price action has caught my attention and is leaning toward 'slightly positive'.
On Monday we saw a bullish engulfing candle being printed, following a strong move higher during the next session. Since Wednesday the candle structure suggests that 115.32 is a 'level of interest'. Traders should look for a break of the downward trend line which would line up with a break of the 5/10 exponential moving average. On the upside, the target would be 119.89 followed by 122.03 using a stop-loss of 113.10. Over the long term we still have a head and shoulder formation that has developed that could see R100 being tested.
JSE:VOD
Vodacom breaking down?Daily chart shows price trying to break support around R118.
I'm monitoring for, 1st, a close below R118, and 2nd, for that R118 area to act as resistance.
Provisional entry levels, R115/R116; target R100.
$JSEVOD impulse with Eliott WaveUPDATE. Previous count edited slightly
- I still think we are going up
- No idea what happened this morning. Massive instant drop..
- My mistake might have been thinking we can get an symmetric triangle in the 2nd wave. Apparently that's not possible by EW rules.
- I now count the low of this morning as the end of wave 2.
$JSEVODJSE:VOD
Broke higher from long sideways consolation. Yesterday pulled back and so far looks as false break.
Short if 13000 is broken. Target probably back to the bottom of the channel around 11800.
Bearish chart formation in Vodacom Group
Expecting a trend reversal on a failed break above the key resistance R 132.00 / R 134.00 levels.
Failure will result in a downward trend to possibly test R 117.50 / R 118.50
$JSEVOD Vodacom testing the declining trendlineVodacom is busy testing the declining trend line today which has been in place since about July of this year. Still looks to resemble a flat bottom triangle, with a closure below R118.00 confirming the pattern. Target from this pattern would then be R95.00. An entry here would be very much pre-emptive but skews the risk / reward highly in your favour. Wait for a reversal off this R129-R130 level to enter.
Is The Full Correction On Vodacom Complete?Vodacom is a leading African communications company providing a wide range of communication services, including mobile voice, messaging, data, financial and converged services to over 103 million (including Safaricom) customers. From Vodacom's roots in South Africa, they have grown their mobile network business to include operations in Tanzania, the DRC, Mozambique, Lesotho and Kenya. Vodacom's mobile networks cover a population of over 284 million people. Through Vodacom Business Africa (VBA), the group offers business managed services to enterprises in 32 countries. Vodacom is majority owned by Vodafone (64.5% holding), one of the world’s largest communications companies by revenue.
Technicals
Weekly: The uptrend had to end at some point in time, what a run it was! The current correction has found strong support at the 50% Fib retracement level. I would not be surprised to see this level break and price move to the 61.8% retracement level.
Daily: The daily setup tells me that there are two possibilities. Either we have seen the whole correction and the 50% retracement level will hold or the correction will likely be even deeper than the 61.8% retracement level. If this is the case and we see the 78.6% retracement level, that would be a very significant fall in share price for Vodacom! This leads me to believe that it is more likely that we have seen the entire correction already and that we should see a reversal from here.
$JSEVOD daily chartJSE:VOD
Today's daily candle on $JSEVOD looks extremely bearish. More downside coming.
Off course some 40 minutes till close
$JSEVOD hourly chartJSE:VOD
Pulled back and made bearish flag wait for break lower.
Longer term target can be found here:
