$JSEVOD - Vodacom: Etisalat To Investment in Vodacom?
I recently covered Vodacom on the 4th of December giving a bullish continuation channel setup.
Breakouts from such channels tend to be more reliable when they occur on high volume.
High volumes tend to have more significant meaning when they come from institutions based on changes in fundamentals or there is new news flow.
Vodacom certainly ticks all these boxes.
On the 7th of December 2022, at 13:42 CAT, Bloomberg ran an article that Emirates Emirates Telecommunications Group is exploring a potential investment in Vodafone Plc’s African business as it seeks to boost its international footprint.
The Vodacom share price has since spiked and closed above the resistance trendline.
A lot can still happen regarding this potential investment and more volatility can be expected as lots of speculation will also take place.
Breakouts from such channels tend to be more reliable when they occur on high volume.
High volumes tend to have more significant meaning when they come from institutions based on changes in fundamentals or there is new news flow.
Vodacom certainly ticks all these boxes.
On the 7th of December 2022, at 13:42 CAT, Bloomberg ran an article that Emirates Emirates Telecommunications Group is exploring a potential investment in Vodafone Plc’s African business as it seeks to boost its international footprint.
The Vodacom share price has since spiked and closed above the resistance trendline.
A lot can still happen regarding this potential investment and more volatility can be expected as lots of speculation will also take place.
