VOD breaks below previous session low

Vodafone Group Plc (VOD) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team


VOD tanks -2.19% closing $0.53 lower
VOD closes above its opening price after recovering from early selling pressure
VOD breaks below 20-day moving average
VOD closes lower for the 3rd day in a row
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.

Daily Candlestick Chart (VOD as at Aug 10, 2018):

Daily technical analysis candlestick chart for Vodafone Group Plc (VOD) as at Aug 10, 2018

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.

Market Conditions for VOD as at Aug 10, 2018

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