Vodafone- In its Monthly resistance Zone – Will you short the stock ?
Vodafone is trading near the resistance zone on a 4 hour time frame. This resistance zone is coming from a monthly time frame and the last time the price was in this zone was in march 2001. The price is piercing the Bollinger band at this level and piercing of the Bollinger band does have a significant important specially when this is taking place at an important level of support or resistance because it has a tendency to stop the move or reverse the direction of the trend.
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