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Vodafone is “amazingly dull” but a rally is possible says Zak Mir

“It is amazingly dull.” TIP TV’s Zak Mir perfectly sums up what many investors think about Vodafone Plc.

Mir, in a segment for Proactive Investors, highlights that Vodafone shares have “basically been sideways for months” and any traders still bothering to pay attention are waiting for a break-out.

That said, the technical analyst reckons telecoms share (priced today at 224.3p) has the potential to rally up to around 245p once there it marks a close above the 227p level.

“As you can see from the chart there’s a rising trend channel, a mildly rising trend channel, since the end of June. The only excitement there I suppose was the post Brexit vote dip, which was a dip to buy into,” he says.

“So, if pushed, one would probably say still the shares are a buy on a dip, rather than anything else.

“There’s nothing negative about it. But it looks like dead money compared to the market.”

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