Vodacom Group Limited Stock Forecast
Vodacom Group Limited stock downgraded from Buy Candidate to Hold/Accumulate after Monday trading session.
(Updated on May 20, 2024)
The Vodacom Group Limited stock price fell by -0.570% on the last day (Monday, 20th May 2024) from $5.26 to $5.23. During the last trading day the stock fluctuated 3.31% from a day low at $5.13 to a day high of $5.30. The price has risen in 6 of the last 10 days and is up by 5.66% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -12 thousand shares and in total, 14 thousand shares were bought and sold for approximately $75.37 thousand.
The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $5.29 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Vodacom Group Limited stock with a 90% probability to be traded between $4.59 and $5.28 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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VDMCY Signals & Forecast
The Vodacom Group Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $5.07 and $4.97. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, May 17, 2024, and so far it has fallen -0.570%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Vodacom Group Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at $4.93 and $4.89. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Vodacom Group Limited finds support just below today's level at $4.93. If this is broken, then the next support from accumulated volume will be at $4.89 and $4.85.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.170 between high and low, or 3.31%. For the last week the stock has had daily average volatility of 2.28%.
Our recommended stop-loss: $5.03 (-3.73%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 23 days ago.)
Trading Expectations (VDMCY) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Vodacom Group Limited to open at $5.22, and during the day (based on 14 day Average True Range), to move between $5.05 and $5.41, which gives a possible trading interval of +/-$0.179 (+/-3.42%) up or down from last closing price. If Vodacom Group Limited takes out the full calculated possible swing range there will be an estimated 6.83% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $5.24 (0.19%) than the support at $4.93 (5.74%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Vodacom Group Limited stock A Buy?
Vodacom Group Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.587 Hold/Accumulate Downgraded
Predicted Opening Price for Vodacom Group Limited of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| $5.22 ( 0.192%) | $5.23 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VDMCY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.39 | 3.06 % | |
| R2 | 5.32 | 1.82 % | ||
| R1 | 5.28 | 1.05 % | ||
| Current price: | 5.23 | |||
| Support | S1 | 5.16 | -1.43 % | |
| S2 | 5.11 | -2.20 % | ||
| S3 | 5.05 | -3.44 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.28 | 0.96 % | |
| R2 | 5.26 | 0.574 % | ||
| R1 | 5.24 | 0.191 % | ||
| Current price | 5.23 | |||
| Support | S1 | 4.93 | -5.74% | |
| S2 | 4.89 | -6.50% | ||
| S3 | 4.85 | -7.27% |
VDMCY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 14, 2023 | Nov 30, 2023 | Dec 11, 2023 | $0.110 | 2.09% |
| 2 | Sep 08, 2023 | Jun 22, 2023 | Jul 03, 2023 | $0.172 | 2.70% |
| 3 | Nov 30, 2022 | Dec 01, 2022 | Dec 12, 2022 | $0.197 | 2.72% |
| 4 | Jun 17, 2022 | Jun 23, 2022 | Jul 05, 2022 | $0.277 | 3.45% |
| 5 | Dec 02, 2021 | Dec 02, 2021 | Dec 02, 2021 | $0.274 | 3.29% |
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