Shwayze
Short

Verizon tests resistance line at 50% fib retracement- short term

NYSE:VZ   VERIZON COMMUNICATIONS
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VZ has had a good run, while other tech stocks plummet, VZ seems to be holding on to its lead. This is the third time it battles with the $50 mark, while it's latest cycle downward has bounced and hit this resistance line. If resistance is broken and VZ actually closes above the 50%, we can see good upward movement. However, expect stock to linger, perhaps another dip, as it struggles to gain traction at this level.

Next level up, short term would be $51.49. Next level down we would see a retrace back to $46.15 ish . I'm purchasing more on the dip, if it comes.
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