France: Vodafone faces strong resistance – Analysis – 01-06-2016

Vodafone shares ended the recent positive trading by touching 234.00 that forms the extension of the main resistance as appears on chart, while the stability of this resistance against the current trading allows us to suggest the correctional bearish bias and expect reaching 227.40 followed by targeting the moving average 55 at 222.00.

Also, stochastic attempt to exit the overbought areas supports getting rid of the positive domination, to begin gathering new negative momentum and confirm the affection of the bearish bias until reaching our waited targets.

Expected trading range for today is between 234.00 and 227.40

Expected trend for today: Bearish