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Technical Trade note on Vodacom Group Limited (VOD) - 11 September 2018

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Barry Dumas
Medium-Trade-Conviction-Technical-Trade-Note-Barry-Dumas-of-gt247

CONVICTION: MEDIUM

With the spotlight firmly on the telecoms sector over the last couple of weeks, Vodacom Group Limited (VOD) might be set for another leg lower.

Looking at the chart below we can see a head and shoulders (H&S) pattern had formed with a breakdown through the 12360c neckline level. The price action moved higher, retesting the neckline and breaking down lower which might just give us a great entry point.

In this note you will find the trade summary with entry point, stop loss and take profit as well as the chart technicals.

Trade: Vodacom Group Limited (VOD)

  • Entry (Sell): 12066c
  • Stop loss: 12360c
  • Target price: 11732c

Screen Shot 2018-09-11 at 09.00.40

Chart Source: Bloomberg

 

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