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Showing posts with label VOD. Show all posts
Showing posts with label VOD. Show all posts

Wednesday, December 18, 2013

Elliott Wave Analysis of VOD (FTSE)

I recently posted a potential timing chart of VOD on StockTwits see here: http://stocktwits.com/message/18150839

Its met a time and price fibbo cluster and i think holders of this stock should take some precautions and watch this stock very closely.

The FTSE is showing significant weakness compared to many other world markets.

From the highs made on the 12th Oct 2013 i can count a 5 wave decline, so if a bounce fails to completely retrace the decline, then it can setup for more downside in this stock and add further weakness to the FTSE, as the banks are also suffering in the FTSE.

There is a nice gap just above which will be the perfect area for this to tag and end the correction before setting up and moving lower.

The idea is wrong above the last swing high, (blue line) so that's where the stop needs to be.