Current trend

Shares of Verizon Communications Inc., one of the largest American telecommunications companies, are trading within a long-term upward trend. After completing a short-term correction, they reversed from 42.97 (Murrey level [7/8]). After the asset consolidates above the upper border of the main Murrey trading range 43.75 (Murrey level [8/8]), it may reach the area of ​​45.31 (Murrey level [ 2/8]) and 46.88 (Murrey level [ 2/8], W1). After a breakdown of the lower line of Bollinger Bands 42.97 (Murrey level [7/8]), a decline to the area of ​​41.41 (Murrey level [5/8]) and 40.62 (Murrey level [4/8]) is likely.

Technical indicators do not give a single signal: Bollinger Bands are reversing downwards, and Stochastic is reversing upwards. The MACD histogram is at the zero line, its volumes are insignificant.

Support and resistance

Resistance levels: 45.31, 46.88.

Support levels: 42.97, 41.41, 40.62.

Trading tips

Long positions may be opened from 44.30, with the targets of 45.31, 46.88, and stop loss of 43.60. Implementation period: 5–7 days.

Short positions may be opened below 42.97, with the targets at 41.41, 40.62, and stop loss 43.45.