Will Vodafone Stock Continue to Rise?
T = Trends for a Stock’s Movement
Vodafone is a mobile communications company that provides a range of communication services and operates across the globe. The firm’s products and services cover voice messaging, data, fixed-line solutions, and devices to assist customers in meeting their total communications needs. Vodafone operates in three geographic regions: Europe, Africa, and Central Europe; Asia Pacific; and the Middle East.
Vodafone has reached a deal with Verizon Communications (NYSE:VZ) to sell its stake in Verizon Wireless. Also, Vodafone’s customers in Germany are now vulnerable from a cyberattack on the company in which hackers stole the personal information of 2 million Vodafone Germany customers. The hackers weren’t able to obtain credit card information, PIN numbers, or passwords, but did access information on customers’ birth dates, names, addresses, gender, and account numbers. Vodafone said a suspect has been identified and that his home was searched.
T = Technicals on the Stock Chart Are Strong
Vodafone stock has been steadily rising over the past several years. The stock is now trading at highs for the year and looks poised to continue. Analyzing the price trend and its strength can be done using key simple moving averages. What are the key moving averages? The 50-day (pink), 100-day (blue), and 200-day (yellow) simple moving averages. As seen in the daily price chart below, Vodafone is trading above its rising key averages, which signal neutral to bullish price action in the near term.