Medium term
Trade view / 25 March 2015 at 12:14 GMT

Buy Vodafone for a fresh run at the January highs

Technical Analyst / FuturesTechs
United Kingdom
Instrument: VOD:xlon
Price target:
Market price:

This may not be the most exciting call we’ll ever make, but it’s got legs for the patient, is in line with the bull trend for the overall Index, and has a number of things in its favour. 

I know this is a well-followed stock for many of you anyway, so it's always good to add some colour! We have seen weakness since mid-January in a channel that has now broken (and did so with an uptick in volume, which is good news). 

It gapped higher on March 16 and our stop is placed below this gap. We then broke the channel and this is constructive, suggesting we can head back to the highs at the very least. The third target could take a bit longer and is a long term Fibonacci target.

There is a gap at 231.85 which worries me as a potential resistance.

MACD agrees, having recently crossed to give a buy signal.


Entry: Buy above 225.

Stop: Below 219, or below 215 if you want to give it a bit more “rope”.

Targets:  231, 245 and 278.

Time horizon: One to three months

Daily bar chart

— Edited by Michael McKenna

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