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Possible Bullish Inside Day Candle Pattern Detected for Vodafone Group (NYSE:VOD)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Vodafone Group (NYSE:VOD) based on the price action in the company's shares. Today's price range of $28.54 and $28.68 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of Vodafone Group may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Vodafone Group (NYSE:VOD) has potential upside of 8.6% based on a current price of $28.64 and analysts' consensus price target of $31.11. Vodafone Group shares should first meet resistance at the 50-day moving average (MA) of $31.95 and find additional resistance at the 200-day MA of $32.85.

Vodafone Group Plc provides a range of mobile telecommunications services, including voice and data communications. Vodafone has equity interests in 28 countries and Partner Networks in a further 7 countries with almost all the Group's mobile subsidiaries operating principally under the brand name Vodafone. In the United States their associated undertaking operates as Verizon Wireless.

Over the past year, Vodafone Group has traded in a range of $24.17 to $39.46 and is now at $28.64, 18% above that low. The 200-day and 50-day moving averages have moved 0.27% lower and 0.56% higher over the past week, respectively.

SmarTrend is monitoring the recent change of momentum in Vodafone Group. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Vodafone Group in search of a potential trend change.

Keywords: bullish inside day candle vodafone group

Ticker(s): VOD