Vodafone Group PLC ADR (VOD), which trades on the New York Stock Exchange, has continued to demonstrate strong technical performance. The shares currently hold a perfect SIA SMAX score of 10 out of 10 and sit in the Favored Green Zone of the SIA International ADR Index Report. Vodafone is ranked 19th out of 255 securities in the report, having climbed 17 positions over the past month and 61 positions during the past quarter.
Vodafone’s most recent point and figure signal is a Double Top, reflecting positive demand. The shares are currently testing resistance near $17.94. A sustained breakout above this level would bring the stock’s 2018 high near $19.42 into focus as the next potential resistance target.
Should the shares encounter selling pressure initial support may be extrapolated at the 3-box reversal level of $16.25. Additional support appears near $15.01, followed by a more significant level around $12.81.
Vodafone has generated returns of 8.15% over the past month, 20.58% over the past quarter and 56.37% over the past year. These results compare favourably with the iShares MSCI ACWI ex U.S. Index ETF, which returned -2.24%, 2.49% and 18.60% over the same respective periods.
At the sector level, Telecommunications Services currently occupies the Neutral Yellow Zone of the SIA Sector Report and ranks 16th out of 31 sectors. This indicates that Vodafone’s strong individual performance appears presently to be exceeding the relative strength profile of its broader sector.
Vodafone Group Plc is an international telecommunications company operating mobile and fixed networks across 15 countries, with additional interests in seven countries through joint ventures and associates. Its operations span Vodafone Business, Europe Consumer and Africa Consumer, supported by infrastructure assets, shared operations and growth platforms.
With its perfect SMAX score, high International ADR ranking and substantial relative outperformance, Vodafone remains technically strong. The key near-term development to watch is whether the shares can decisively break through $17.94 and challenge the longer-term resistance level near $19.42.
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