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Ninja Trader Chart of the Day 4.25.13


In today’s NinjaTrader and Mr. TopStep Chart of the Day, we take a look at what this may mean for investors of Vodafone stock.

Using free end of day data provided by Kinetick, we are showing a daily chart of Vodafone stock ($VOD) for the last year and it is easy to see that $VOD has broken to new 52 week highs coming off the news of this possible deal. For a quick analysis of the trend of the stock, the “TSSuperTrend” indicator (a free downloadable indicator available on the NinjaTrader Support Forum) has been added to the chart. This indicator uses price action in relation to an average true range to determine an up versus down trend with respective blue colored and red colored bars. The last 2 months have clearly been an uptrend in the stock with no signs of movement to the downside. In addition, we have added the Fibonacci Retracement to the prior 52 week high and low which the stock seemed to respect until the recent news. To project future price movement, we have applied the Fibonacci Extension drawing tool to the same area, however this tool projects out further price levels with the next target being around the $31.50 area which represents a 3.5% move to the upside.

Another indicator of note can be seen in black and blue at the bottom of the chart. This indicator is the CoronaTrendVigor (also available for free download on the NinjaTrader Support Forum), and displays the strength of a prevailing trend as a solid line while showing negative pressure on the trend as the “fuzziness” of the line increases. We can see that lately the $VOD stock has been in a solid uptrend with only a slight pressure to the downside near the old 52 week high just above $30/share.

As long as this deal goes through as planned, Vodafone should end up with a huge payday which would carry over to investors. The current price action also reflects investor sentiment that the stock has nowhere to go but up.

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You can replicate today’s chart for free using the NinjaTrader 7 software and unfiltered data provided by our preferred market data provider - Kinetick. Contact us today to provide your feedback and questions at sales@ninjatrader.com.

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