VOD breaks below previous session low
Moving lower for the 3rd day in a row, VOD ended the week -2.67% lower at 23.70 after tanking $0.53 (-2.19%) today. This is the biggest single day loss in over a month. Today's closing price of 23.70 marks the lowest close since July 26th. Trading up to $0.10 lower after the open, the market managed to reverse during the session as bulls took control ending the day above its opening price. Closing below Thursday's low at 24.13, the stock confirms its breakout through the previous session's low having traded $0.64 below it intraday.
Friday's trading range was $0.24 (1.02%), that's slightly below last trading month's daily average range of $0.27. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being slightly below average.
Prices are trading close to the key resistance level at 23.85.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term. The share broke below the 20-day moving average at 23.99 today for the first time since August 2nd.
With prices trading close to this year's low at 23.23, downside momentum might accelerate should Vodafone Group break out to new lows for the year.
Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a slightly bearish sentiment for the next trading day.
Market Conditions for Vodafone Group Plc
|White Candle||TQ Pro Members Only|
|Close to Swing High||TQ Pro Members Only|
|RSI(2) below 20||TQ Pro Members Only|
|Close to Swing Low||TQ Pro Members Only|
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