Watching quite a few of my charted reits started or looking to get legs, VPG seems to be lagging (damn thing always seems to be last off the blocks lol). Just rounding her out seeing consolidation around the 12-13c mark target 12.5 for the last 7 trading days (with a slight abnormality on the 31st August).
Positive DMS is mirroring average directional indicator angling down showing lack of momentum, still well above negative which itself is also mirroring this downtracking reflecting lack of interest in the stock, this is confirmed by decreasing volume.
MACD also stepped away from a potential positive spin\reversal last Thursday, which I personally didn't expect though that's the market eh :)
Slow stochastic I'd expect will again go around the 20-25 point mark closer to end of week, although I don't believe we'll see below 12c sp when we hit it.
RSI currently leveled out on the 50% mark which we haven't seen since 22nd July @ 8c close prior to current run, not saying we'll see that kind of gain in the short term but makes an interesting reference point in the RSI.
Overall what I'm finding interesting is the rapid closure of the bollinger bands, been trying to 'guesstimate' a pincer finish before a short sideways movement, currently I'm seeing Thurs\Friday, perhaps into Friday forming final phase of a pincer and the slow stochastic 20-25 around the same day, I'm leaning towards Friday anyway if the pattern keeps up.
Then once formed, need that parabolic SAR buy sig cross, I think we'll see it at 13c late Friday or Monday before any upward movement, which in theory should lead us to a spike in the sp, perhaps as high as 17c tail only then settling around the 15.5c for a day and a retrace to umm 14\13.5c mark however it could be sudden or it could be after a small period of squeeze sideways, give or take market momentum, that MACD needs a twist.
Happy to discuss with other charters here as it's a predictor not an exact science.
Please DYOR, this is for chart discussion not recommendation.
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vodafone group plc.
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