Vodafone share price is up by more than 2% today, becoming one of the best-performing names in the FTSE 100. The shares are trading at 132p, which is slightly above the December low of 115p.
Vodafone news: The Vodafone share price is rising today as investors react to news that the company is considering options for its Ghanaian business as it implements a restructuring program for its African business.
The company is said to be considering selling the business to Vodacom, a South African company. Vodafone recently exited its business in Malta and New Zealand and is in the process of launching the IPO for its tower business.
Meanwhile, Vodafone share price is also reacting to the upcoming earnings that will come on Wednesday next week.
Vodafone technical outlook
In my last analysis on the Vodafone share price, I predicted that the stock would rise to about 142p. That did not happen since the stock dropped from 133p to about 123p. However, in the past few days, the company’s shares have risen by about 10% and are approaching the previous high of 133p.
Notably, the stock has formed a golden cross, which happens when the 50-day and 200-day moving averages make a crossover. This means that bulls are prevailing. Therefore, if they manage to move above 133p, it will open the opportunity of the shares rising to 142p, which is the December 10 high.
VOD share price chart