At least stock price wise, not all is looking good for Verizon...
Trading between macro means on long term basis, price signalling uncertainty. Price has recently failed 5-year mean at 44 and is now between it and 10-year mean at 38. No trend on macro basis is an outlier, indicating that currently long term institutional investors are unsure regarding this...
The spread in VZ/T has come off rapidly and represents a good long opportunity with the goal of mean reversion in mind.
Note the 2 purple boxes and how similar they are in structure and location to one another.
Also note the weekly tweezers indicating the potential for a bottom here.
As always DYOR
Open 3 positions for the two main targets with an additional position for continuation. Move stops to protect positions once price has cleared them.
Good Luck!
The obvious long was the completion of the Bullish Cypher, but VZ may still have some gas in the tank for a short-term play. Price is holding this trend line very well today.
Telecoms caught some weakness after earnings release. $51.50 was important resistance above which buyers failed to hold eventhough company released numbers higher than expectations.
Now, we have tight consolidation near lows with resistance at $49.15. Break below consolidation support $48.50 will trigger Short entry and will open doors to $46 major support.
If...
VZ has come to trade in a nice little squeeze of a channel here for the past week. This support level also happens to be the .618 of the bigger picture leg. Momentum continues to see higher lows which should lead to this level holding up and a retest to the next resistance level.
Bullish breakout above multiple key resistance levels, and that comes in the context of retesting a major long term support level at around 45, check the related link for the overall view.
Near Term target at 51.20 resistance, followed by the latest major swing high at 54.25. A longer term target mentioned in my earlier analysis at 60.00 areas.
Only a break...
At the start of 2014, VZ tested and failed it's support line from August 2011. At this time there was also a conversion of moving averages (MAC). Now VZ is back above it's 50 Day EMA and looks to test its resistance line which formed in May 2013. If it brakes out above that, it should retest it's fib level at $49.11. A break above that level would result in a...
Look at that basing pattern , i was confused as to VZ behavior vis-a-vis T.. but now the big dog seems to be coming around.. why bet on fancy cos. when you can make 10 % consistently in and out..?
Shares have been pushing lower within the recent months, however the pullback remains a technical retest to the broken main resistance around 45.50-46.00 areas.
-The latest retest last week was also re-bought, with huge volume levels.
-The price forms another pin bar at the to-year moving average.
The odds in favor of a rebound in Verizon, probably for a...
