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Long trade for Vodacom

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Odwa Magwentshu
Vodacom

Trade summary: Long VOD

Target price:                      18000c

Entry:                                  16500c

Stop loss:                           15800c

The price movement has been positive after a stellar trading update that was released by the company this week.  From the chart above, the price action gapped lower in September 2017 and drifted lower to its December lows. This opening gap could be closed in  days to come, as we believe the momentum should drive it higher and close the gap. For this particular trade there is a risk/reward ratio of 2.14 : 1 should it go in our favour.

 


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