Verizon Communications Inc. (VZ/NYSE): general review
23 August 2018, 11:31
| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | BUY STOP |
| Entry Point | 55.10 |
| Take Profit | 56.00, 57.00, 57.50 |
| Stop Loss | 54.00 |
| Key Levels | 51.75, 53.00, 54.00, 55.00, 56.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 53.90 |
| Take Profit | 52.00, 51.50 |
| Stop Loss | 55.00 |
| Key Levels | 51.75, 53.00, 54.00, 55.00, 56.00 |
Current trend
Verizon shares are traded near the 52-week high, updated earlier this week. The growth of quotations of the issuer has exceeded 14% since the middle of July. Strengthening of shares is facilitated by the publication of a strong quarterly report with results higher than market expectations, as well as an increase in the forecast figures for 2018.
Verizon offers a free subscription to Apple TV and YouTube in four US cities in order to attract new customers for its 5G Internet service. Earlier this year, the company was the first to launch 5G wireless standard.
Within the previous week the stock of Verizon grew by 1.69%. S&P 500 went up by 1.54% within the same period.
Support and resistance
Currently, the issuer is consolidating after a protracted growth. #VZ quotes are testing the monthly highs. A technical correction is possible in the near future. Indicators show mixed signals: the price has consolidated above MA (50) and MA (200), and MACD histogram started to decrease. Positions are to be opened from key levels.
Comparing company's multiplier with its competitors, we can say that #VZ shares are undervalued.
Resistance levels: 55.00, 56.00.
Support levels: 54.00, 53.00, 51.75.
Trading tips
If the price consolidates above 55.00, further growth of #VZ quotes is expected. Potential profits should be locked in by orders at 56.00, 57.00 and 57.50. Stop loss will be located at 54.00.
If the price consolidates below 54.00, one should consider selling the company's stock. The movement potential is aimed in the area of 52.00–51.50. Stop loss — 55.00.
Implementation period: 3 days.
Verizon shares are traded near the 52-week high, updated earlier this week. The growth of quotations of the issuer has exceeded 14% since the middle of July. Strengthening of shares is facilitated by the publication of a strong quarterly report with results higher than market expectations, as well as an increase in the forecast figures for 2018.
Verizon offers a free subscription to Apple TV and YouTube in four US cities in order to attract new customers for its 5G Internet service. Earlier this year, the company was the first to launch 5G wireless standard.
Within the previous week the stock of Verizon grew by 1.69%. S&P 500 went up by 1.54% within the same period.
Support and resistance
Currently, the issuer is consolidating after a protracted growth. #VZ quotes are testing the monthly highs. A technical correction is possible in the near future. Indicators show mixed signals: the price has consolidated above MA (50) and MA (200), and MACD histogram started to decrease. Positions are to be opened from key levels.
Comparing company's multiplier with its competitors, we can say that #VZ shares are undervalued.
Resistance levels: 55.00, 56.00.
Support levels: 54.00, 53.00, 51.75.
Trading tips
If the price consolidates above 55.00, further growth of #VZ quotes is expected. Potential profits should be locked in by orders at 56.00, 57.00 and 57.50. Stop loss will be located at 54.00.
If the price consolidates below 54.00, one should consider selling the company's stock. The movement potential is aimed in the area of 52.00–51.50. Stop loss — 55.00.
Implementation period: 3 days.
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