I am new to publishing ideas, but have been an avid trader for years and been on trading view for a couple of years doing technical analysis.
I thought to publish this idea as i believe there is a opportunity here.
VODACOM : reviewing the latest SENS news
Putting all the inflation (USA and RSA) worries aside(and waiting for the news to pass so investors can move the heck on!) , it seems from the great financials published recently and progress vodacom is making and new products/market they are entering, there is some positive movement here.
My reasoning :
DAILY CHART : Currently it looks like it is in elliot wave 3. The share has broken above it's 50 and 65 and 200 day SMA, although currently fluctuating above and below this level... Fibb shows a potential to hit 38->62% fibb or even 62->76% , 78% fibb and it will be of great importance once it closes above the 38fibb off course, and the signs look good seeing its also above the SMA's mentioned earlier. [Watch out for the EX-DIV on 23june (R4.10 ) correction]. Hopefully vodacom will hit R132-134 on Last day to trade (22june).
WEEKLY CHART : If you view the weekly chart you can see the accumulation phase it is in. It is also hovering at the 38fibb. if it breaks R138.00 (above 38fibb) it will most probably run to the R150-R164 level (62 fibb and 76-78fibb) in the longer term.