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Lambert: Why I am selling Vodafone

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Clive Lambert is looking to sell Vodafone stock as he believes equity markets could be trading at the top of the range and may soon see another sell-off.

According to Lambert, equity indices hit key resistance levels on Wednesday before seeing selling from these levels. He says this this suggests a weaker tone going forward.

Looking at individual stocks to trade on the FTSE 100, Lambert says Vodafone has failed at key resistance around 232-235p. He is looking to sell at around 228-230, with a stop above 235, targeting a return to the stock’s August low at 210.