Verizon Communications Inc. (VZ/NYSE): general review
10 August 2018, 13:19
| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | BUY STOP |
| Entry Point | 53.10 |
| Take Profit | 54.00, 54.50, 55.50 |
| Stop Loss | 52.00 |
| Key Levels | 49.00, 50.25, 51.75, 53.00, 54.50 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 51.70 |
| Take Profit | 50.25, 49.50 |
| Stop Loss | 52.75 |
| Key Levels | 49.00, 50.25, 51.75, 53.00, 54.50 |
Current trend
Verizon shares have added 4.43% since the publication of the financial report for Q2 2018 on July 24, updating the 3-month high following the trading session on August 9. The company's revenue increased by 5.4% to USD 32.2 billion, adjusted net income per share increased by 25% YoY to USD 1.20, both of which exceeded Wall Street's expectations. In addition, the company expects capital investments in 2018 at the lower boundary of the forecast of USD 17-17.8 billion, despite extensive investment in the 5G network.
Within the previous week the stock of Verizon grew by 1.98%. S&P 500 went up by 0.92% within the same period.
Support and resistance
The shares of the company are dominated by "bullish" tendencies. At the moment the issuer is testing the key supply zone at 53.00–53.50. #VZ quotes have the potential to further growth. Indicators show the strength of the buyers: the price has consolidated above MA (50) and MA (200); MACD histogram is in the positive zone and continues to grow. Positions are better to be opened in line with the current trend.
Comparing company's multiplier with its competitors in the industry, we can say that #VZ shares are neutral.
Resistance levels: 53.00, 54.50.
Support levels: 51.75, 50.25, 49.00.
Trading tips
If the price consolidates above the resistance level of 53.00, one should expect the company's shares to grow. Potential profits should be locked in by orders at 54.00, 54.50 and 55.50. Stop loss will be located at 52.00.
If the price consolidates below 51.75, corrective movement is expected. The movement potential is aimed in the area of 50.25–49.50. Stop loss — 52.75.
Implementation period: 3 days.
Verizon shares have added 4.43% since the publication of the financial report for Q2 2018 on July 24, updating the 3-month high following the trading session on August 9. The company's revenue increased by 5.4% to USD 32.2 billion, adjusted net income per share increased by 25% YoY to USD 1.20, both of which exceeded Wall Street's expectations. In addition, the company expects capital investments in 2018 at the lower boundary of the forecast of USD 17-17.8 billion, despite extensive investment in the 5G network.
Within the previous week the stock of Verizon grew by 1.98%. S&P 500 went up by 0.92% within the same period.
Support and resistance
The shares of the company are dominated by "bullish" tendencies. At the moment the issuer is testing the key supply zone at 53.00–53.50. #VZ quotes have the potential to further growth. Indicators show the strength of the buyers: the price has consolidated above MA (50) and MA (200); MACD histogram is in the positive zone and continues to grow. Positions are better to be opened in line with the current trend.
Comparing company's multiplier with its competitors in the industry, we can say that #VZ shares are neutral.
Resistance levels: 53.00, 54.50.
Support levels: 51.75, 50.25, 49.00.
Trading tips
If the price consolidates above the resistance level of 53.00, one should expect the company's shares to grow. Potential profits should be locked in by orders at 54.00, 54.50 and 55.50. Stop loss will be located at 52.00.
If the price consolidates below 51.75, corrective movement is expected. The movement potential is aimed in the area of 50.25–49.50. Stop loss — 52.75.
Implementation period: 3 days.
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