louisleeiv
Short

Short Verizon in mid-late February

NYSE:VZ   VERIZON COMMUNICATIONS
Based on a multi-month descending triangle formation and a big earnings miss, I'm looking to short Verizon at around $56. The short term has a good bullish candle at the end of last week after bouncing off a long standing horizontal support, but I expect it to bounce again when it hits the descending trend line at both price and RSI . Stop loss would be around $58 in case is does break to the upside. Take profit is $50, a 1:3 risk:reward ratio.
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