Vodafone Group Plc Stock Forecast
Vodafone Group Plc stock upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.
(Updated on Mar 28, 2024)
The Vodafone Group Plc stock price gained 0.793% on the last trading day (Thursday, 28th Mar 2024), rising from $8.83 to $8.90. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.47% from a day low at $8.84 to a day high of $8.97. The price has risen in 5 of the last 10 days and is up by 4.83% over the past 2 weeks. Volume fell on the last day by -557 thousand shares and in total, 7 million shares were bought and sold for approximately $58.99 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Vodafone Group Plc stock with a 90% probability to be traded between $8.03 and $9.23 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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VOD Signals & Forecast
The Vodafone Group Plc 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 $8.69 and $8.65. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 19, 2024, and so far it has risen 5.08%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Vodafone Group Plc stock
Vodafone Group Plc finds support from accumulated volume at $8.82 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.130 between high and low, or 1.47%. For the last week, the stock has had daily average volatility of 1.51%.
Our recommended stop-loss: $8.51 (-4.36%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (VOD) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Vodafone Group Plc to open at $8.90, and during the day (based on 14 day Average True Range), to move between $8.68 and $9.12, which gives a possible trading interval of +/-$0.217 (+/-2.43%) up or down from last closing price. If Vodafone Group Plc takes out the full calculated possible swing range there will be an estimated 4.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $8.94 (0.45%) than the support at $8.82 (0.90%), 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 Vodafone Group Plc stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Vodafone Group Plc stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.452 Buy Candidate Upgraded
Predicted Opening Price for Vodafone Group Plc of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$8.90 ( 0.0375%) | $8.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VOD
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 9.03 | 1.50 % | |
R2 | 8.98 | 0.94 % | ||
R1 | 8.95 | 0.595 % | ||
Current price: | 8.90 | |||
Support | S1 | 8.85 | -0.521 % | |
S2 | 8.82 | -0.87 % | ||
S3 | 8.77 | -1.42 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 9.26 | 4.04 % | |
R2 | 9.04 | 1.57 % | ||
R1 | 8.94 | 0.449 % | ||
Current price | 8.90 | |||
Support | S1 | 8.82 | -0.90% | |
S2 | 8.60 | -3.37% | ||
S3 | 8.47 | -4.83% |
VOD Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Nov 14, 2023 | Nov 22, 2023 | Feb 02, 2024 | $0.481 | 5.51% |
2 | May 16, 2023 | Jun 08, 2023 | Aug 04, 2023 | $0.488 | 5.20% |
3 | Nov 15, 2022 | Nov 23, 2022 | Feb 03, 2023 | $0.466 | 4.25% |
4 | May 18, 2022 | Jun 03, 2022 | Aug 05, 2022 | $0.472 | 3.21% |
5 | Nov 17, 2021 | Nov 24, 2021 | Feb 04, 2022 | $0.514 | 2.82% |
FAQ
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