Vodafone is struggling as the stock continues to fight to create its support base in order to find stabilisation.

Currently trading at £1.07 in a strong downwards trend, major support sits at £1.01 Failure of maintaining this support level could see another slip towards the swing low of £0.92, last seen back in March 2020. MACD is negative and RSI reads 29.9, suggesting the stock is oversold although this could be positive for Vodafone in the short term. If a support base is established potential for a bounce in the upside direction is possible. Towards the upside, minor resistance sits at £1.17 with further resistance at £1.22. If a break above this was successful, the stock could head towards the £1.30 mark to gain some recovery. A break above the descending triangle would be a very positive sign, however, descending triangles often represent a bearish outlook.