ElliottWavePro

VERIZON - bullish opportunity

NYSE:VZ   VERIZON COMMUNICATIONS
Wave (ii) is going to end soon, so we could have a massive bullish rally afterwards.
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You nailed it Dude!..
Appreciate if you can revisit on wave (ii) to (iii) redraw...Thanks in advance.


VZ 2016: Yahoo data
Income Before Tax 20,986,000
Income Tax Expense 7,378,000

%= (7.4/21)100 = 35.23%

@20%, the Tax expense savings = 21*0.20 = 4.2
i.e Income Tax Expense 4,200,000
Tax reform savings = 3.1
Outstanding shares = 4B
EPS added after tax @20% = 3/4 = 0.75cents
Forward P/E @12 = (3.5+0.75)x12 = 51

With 5G, Verizon is in expansion mode to compete 30Million new homes.
So @Forward P/E=17 , VZ share should be @72
Good Luck longs!
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is Wave (ii) around low 44 still a valid level inside the pattern ?
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