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VOD.L closes within previous day's range after lackluster session


Technical Analysis Report for VOD.L - Apr 16, 2018 [1 min read]
Highlights
Traders officially love to sell VOD.L against 207.45 level
VOD.L closes lower for the 2nd day in a row
VOD.L still stuck within tight trading range
VOD.L closes within previous day's range after lackluster session
VOD.L ends the day indecisive
TQ Sentiment
Technical Forecast:
Overview

Moving lower for the 2nd day in a row, VOD.L ended Monday at 206.60 losing £0.25 (-0.12%) on low volume. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for VOD.L
Volatility

Monday's trading range was £2.00 (0.97%), that's below last trading month's daily average range of £3.05. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly above average. Prices continued to consolidate within a tight trading range between 204.00 and 207.85 which it has been in now for the last trading week.

Support/Resistance

Prices are trading close to the key resistance level at 208.25. The stock was sold again around 207.45 after having seen highs at 207.55, 207.85 and 207.70 in the last three trading sessions. Obviously there is something going on at that level.

Trend

Though Vodafone is experiencing a short-term up trend, this could just be a correction, as both the medium and long term trends are still in negative territory.

Order Flow

Buying might speed up should prices move above the nearby swing high at 207.85 where further buy stops could get activated. Further buying might move prices higher should the market test March's close-by high at 208.25.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
High close to previous three Highs TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
2 Consecutive Lower Closes TQ Pro Members Only
Close to Swing High TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

VOD.L finds buyers at key support level

Apr 25, 2018
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