Verizone is gone. May be some new highs coming in and that is why I kept the red line dotted. Once the top is in and uptrend is gone, guess what? Needs to fall. In few months though as it is monthly chart. The bottom red line may act as a guide in future but only time can say. Thanks.
techcrunch.com
HAVING BROKEN OUT ABOVE LONG HELD RESISTANCE, VZ IS LIKELY TO RETEST 60 DOLLAR PRICE AREA..LOOK FOR A BULLISH CANDLE PRICE ACTION ON THE 4HR OR THE 1HR CANDLES AS RETRACES BACK TO THE RESISTANCE-TURNED-SUPPORT TO GET LONG...
VZ has been rallying as it's expected to do better on next month earning.
Daily 1SD / $1.30
Target 1: $53 Close 1/2 of my position here.
Weekly 1SD / 2.80
Target 2: $54 Close all my positions here.
Verizon was traded in a very volatil sidewards-range between 2013 and 2016. The little selloff under the several times tested Support levelat 45,5$ formed a bullish H&S Pattern. This false Breakout was a very good basis for the break of the downtrend and the youngest rally to the big resistance Level at 54$. Verizon tested this niveau three times - and all good...
VZ ( Verizon ) had this very boring sideways action on weekly charts - and in 2016 it broke higher. This stock could follow the market lower in any correction, but I am waiting for a good entry point for a BUY, as I see very good long-term prospects.
Sideway price movement w/ price contractions
Volume contracting at the same time
Weekly chart ended w/ NR7 & NR3 combo
Weekly confirms, again, on sideway price movement and volume contraction
The current Dogs are: CVX, CAT, VZ, PFE, CSCO, IBM, BA, MRK, INTC, XOM. CVX is waiting. CAT IS A BUY. VZ is a buy. Take a look at each one of those names on a DAILY CHART. Set only ONE Exponential moving average on the chart. Just one. Nothing else. A 33 Exponential Moving Average, offset by 3. As soon as you get a Daily Close of any of those stocks, above...
VZ break out triangle.
Show bullish.
entry when price break previous day close.(46.52 usd)
first target to exit (48.90 usd)
stoploss at trend line (46.04 usd)
