Tuesday, 13 September 2016

Technical Tuesday: Vodafone Group Plc.

Monthly


An established uptrend has been in place since the lows registered in 2009 with a steady progress in upward movements. The price has consolidated for two years into a symmetrical triangle with the prospects of coiling to the upside. The 50 moving average is trending up nicely with the price above it. 

The stochastic is currently within the overbought region which makes the probabilities of a break to the upside in the short term less likely. If we were to see a break, it'll likely happen after the stochastic has worked itself off but this put's the break at risk of rolling over into consolidation. 

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