Will Vodafone Stock Push Higher After Recent News?
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. The firm has an investment in the U.S.-based Verizon Wireless (NYSE:VZ).
Vodafone confirmed it’s in discussions with Verizon to sell its 45 percent stake in Verizon Wireless. People familiar with the matter who spoke to Bloomberg said the deal would be worth around $130 billion. The move would help Vodafone CEO Vittorio Colao pour cash into the company’s sagging European businesses, which have suffered from the economic downturn there.
T = Technicals on the Stock Chart Are Strong
Vodafone stock has trended higher over the past several quarters. The stock is currently 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 signals neutral to bullish price action in the near term.