Vodacom ($JSEVOD): Risk & Opportunity in One
Vodacom presents a scenario that can play out both ways while at the same time offering good reward.
- Price broke out of a falling wedge (bullish)
- Did a backtest but was resisted by the 200 week moving average
- One view is to see it in a consolidation before taking out resistance
- Second view is that price wants to dip further before going higher. This view will be validated by price going lower than R120.90 & 119.81 to test the R115.62 low.
- Breaking out above 200DMA/WMA and the upper resistance would allow going long
Further price action will reveal the hidden hand of Mr. Market, we can only wait in anticipation. I have set alerts for both scenarios on the blue trendlines.
- Price broke out of a falling wedge (bullish)
- Did a backtest but was resisted by the 200 week moving average
- One view is to see it in a consolidation before taking out resistance
- Second view is that price wants to dip further before going higher. This view will be validated by price going lower than R120.90 & 119.81 to test the R115.62 low.
- Breaking out above 200DMA/WMA and the upper resistance would allow going long
Further price action will reveal the hidden hand of Mr. Market, we can only wait in anticipation. I have set alerts for both scenarios on the blue trendlines.
Bình luận:
Vodacom has closed above the 30WMA & now just below the 200WMA with positive divergence on the RSI, expecting price to push higher out of the consolidation pattern towards a weekly cycle high.
Bình luận:
Vodacom has stumbled & taken time, now is carving itself into a rising wedge with high probability of price moving lower to test the lows written in the main idea.
Bình luận:
Still observing Vodacom, weekly cycle has dragged on with risk higher to the downside, would be interesting to see what happens at 200DMA, rejection here means we go directly into weekly low.
Giao dịch được đóng thủ công:
Updated idea posted with new roadmap, bearish scenario played out in this instance.
