Verizon Communications Inc. Stock Code VZ.NYS
Price broke above the cloud last Friday and but managed to close above the cloud. This could be a sign the 3-month price correction could have ended and a new bullish trend for the previous high had begun. Conversion and Base lines had a bullish crossover earlier, hinting of a bullish price trend. Lagging Span is above price of 26 days ago but below the cloud. MACD is bullish with both lines moving away from the zero line and higher. There was also a bullish divergence from MACD earlier, hinting that the downtrend could have reached a bottom. We think price is likely to move higher to the previous high at $60.73 in the next 2-3 weeks.
$60.70 Price Target
$57.10 Risk Management Stop
2 weeks Trade Duration