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IC Trades: Vodafone

Vodafone still ringing up the gains

Having easily overcome the barrier around 169p, Vodafone is headed for historic resistance around 179p.

IC TIP: Buy

With the price touching its upper Bollinger band and the daily RSI nearing 70, the likelihood of a brief pullback or consolidation is rising. Despite these overbought readings, there's no reason to abandon long positions yet.

Last IC fundamental view: Long-term buy, 156p,

IC Trades are chart-based trading calls devised by IC writers. City Trades are trading ideas from selected external contributors. Both are based on interpreting various parameters on a share price chart, rather than on a detailed analysis of the company's business prospects. More trading ideas are available on the Tips page