Vi använder en mängd olika cookies för att du ska få den bästa användarupplevelsen. Genom kontinuerlig användning av denna webbplats godkänner du vår användning av cookies. Du kan läsa mer om vår policy för cookies och redigera dina inställningar här eller genom att följa länken längst ner på alla sidor på vår webbplats.
While the chart clearly highlights an eventual target at 289p, I also identified an intermediate target in a tight band of resistance defined as 232-235p as a level at which to book trading profits. With the shares recording a 234.25p intraday high on 11 November, my trading target of 234p has now been fulfilled. As a result, my trading recommendation has reverted to neutral.
While longer-term investors should consider this intermediate resistance at 232-235p as nothing more than a nuisance, traders need devise a plan in which long positions may be re-established. In my view, the trigger for this will be a break above 235p, where the price will enter a new and higher trading band with parameters defined as 232-289p. We should note that there is no resistance of any substance between these two parameters, and any break above 235p will probably see the share price jump quite quickly. A takeover of Vodafone by AT&T, about which the press has speculated, would obviously provide such a catalyst.
A period of sideways churn would now be a very positive development, setting the shares up for a breakout above 235p sometime in the new year. For CFD traders and spread bettors, you can activate a trigger limit on your account to buy on a break above 235p, enabling you to participate in such an outcome.
Recommendation: neutral short-term trading outlook. Longer-term investors should stay the course, with an eventual target of 289p.