Trends and Targets for 10/10/2018

#VODAFONE (LSE:VOD) This lots share price has behaved with similarity to one of these mobile phone contracts which once was a good idea, now rather less so. In fact, if we dwell of the movement the market made at the start of 2018, it was almost like an immoral advertising campaign to reel in some suckers.

Why?

 

The share price was elevated above the downtrend since the year 2000, a movement which almost advertised itself with the promise of good times ahead. This was to prove one of these occasions where our boring mantra, demanding “higher highs” can lessen profit potentials but does tend avoid some pitfalls when trading. The share price managed to 240p, not quite achieving the trend testing prior high of 258p. And then fell off a cliff.

It certainly seems 2018 may be a year Vodafone will prefer forget but thankfully, for now, some hope is rearing its ugly head. Essentially weakness now below 150p  calculates with 144p with some bounce potentials. We’d warn, our inclination is to distrust any bounce unless it can carry the price beyond the immediate downtrend at 173p. This will certainly give potential for recovery as we can mention an initial recovery target at 191p. If exceeded, secondary calculates as a very possible 224p and a donk – once again – against the downtrend from 2018.

As from a fairly reasonable probability of a bounce around the 144p, we’d be pretty concerned if 144p breaks. This opens the door for another truism, the danger of catching falling knifes. Below 144- and 123p certainly deserves some consideration in the annals of history, doubtless with a short lived bounce to again catch bottom feeders.

 

But unfortunately, we will again doubtless issue a report which mentions ultimate bottom is at 92p.

Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop PriorFUTURES
 9:18:43PM BRENT 84.72 Success
9:21:05PM GOLD 1190.04
9:25:20PM FTSE 7240
9:32:51PM FRANCE 5321
9:40:45PM GERMANY 11975 11803 11744 11671 11915 12010 12080.5 12173 11899 Success
9:43:57PM US500 2882
9:51:58PM DOW 26457
10:01:41PM NASDAQ 7372 7315 7301.5 7262 7393 7426 7478 7492 7345

 

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