VOD breaks below previous session low


Vodafone Group Plc (VOD) Technical Analysis Report for Aug 10, 2018 [1 min read]
Highlights
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
TQ Sentiment
Report Sentiment: 57% Bearish
Technical Forecast:
Overview

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 chart for VOD
Volatility

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.

Support/Resistance

Prices are trading close to the key resistance level at 23.85.

Trend

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.

Order Flow

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.

Conclusion

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
Condition Forecast Direction Win Avg Worst Best Events
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
More market conditions identified for TQ Pro members...
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Latest Report:

VOD closes within previous day's range

Aug 17, 2018
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