Could Vodafone share price rise after Q3 trading update?
Fiona Cincotta February 2, 2021 9:34 AM
Vodafone trades -17% over the past 12 months under performing the broader market ahead of the Q3 trading update due Wednesday 3rd February. After better than forecast H1 results is Vodafone on a roll?
Vodafone technical analysis
After rallying from early November, the Vodafone share price has been consolidating across the start of this year forming a triangle consolidation pattern. The price is sitting on the 50 sma at 126.6 and the RSI is also neutral bang on 50.
Q4 results could be the catalyst that causes a breakout for the stock price. Stronger than forecast results could see the share price breakout to the upside and continue its upward trend towards 132.50 horizontal support (yearly high) and on to 136 (high 11th December).
On the flip side, weak results could see the price break out to the downside heading towards 119/8 December low & 100 sma.
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