Vodafone Group Plc (NASDAQ:VOD) has been trying to break out above the key resistance level at 29.25 a couple of times since last month, but each attempt has been unsuccessful. This situation has created a sideways (bullish) consolidation pattern whose upper horizontal trend line could be ready to be broken.

If a breakout occurs on volume, we could see momentum that could move the stock to around the 30-30.3 area. Daily technical indicators are looking bullish again, showing some upward momentum.

This is a guest post by  António Costa, acclaimed trader and the popular author of AC Investor Blog.  All views and analysis belong to the author.

For the Social, Analyst and Sentiment perspective on VOD and other stocks download our iOS or Android app.

António Costa
I'm a 43 year old Independent Trader using proprietary technical analysis with more than 18 years experience of investing in the US stock markets. I write guest posts for Stockal to share my thoughts about capital, risk management, and trading. My posts contains only my personal opinion and are provided for informational purposes only.

Leave a Reply

Your email address will not be published. Required fields are marked *