Vodafone (NASDAQ:LON:VOD) is one of the world's leading global telecommunications companies. Its stock price has been steadily rising since December 2016 when it traded as low as $24.17 a share. Today, is trading at $30.04. It is safe to say that the stock has been gaining ground in 2017.
Traders should note that VOD is now moving into some major chart resistance around the $31 level. This is an important retrace area and a place on the chart where the stock broke down in June 2016. There will most likely be a lot of institutional selling around this $31 chart level for VOD stock.