VOD.L ends the day on a bullish note closing near the high of the day
Vodafone Group Plc (VOD.L) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team
VOD.L finished Thursday at 188.06 gaining £2.46 (1.33%). The bulls were in full control today, moving the market higher throughout the whole session. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range. Ending with a strong close near the high of the day sets a bullish note for the next session.
Daily Candlestick Chart (VOD.L as at Jun 14, 2018):
Thursday's trading range was £3.66 (1.98%), that's above last trading month's daily average range of £3.04. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being way below average.
Breaking through the key resistance level at 185.76 today, it is now likely to act as support going forward. After having been unable to move lower than 185.14 in the prior session, the stock found buyers again around the same price level today at 184.94.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.