Verizon Communications Inc (VZ) “On a long-term technical basis, the stock (VZ) is trading above its 200-day moving average which generally implies it is in a positive trend.

The stock has support at 57.29 and 53.75. If the stock breaks down through support at 57.29 then it will probably continue lower to 53.75. The stock has resistance at 58.23 and at 61.50. If the stock breaks up through resistance at 58.23 then it will probably continue higher to 61.50. The 200-day moving average is at 57.29. This will also act as support. However, the stock has broken out of its long-term downtrend according to the fibonacci fan, which is significant. If the stock can form new support above 57.29 look for a rally to previous highs. The stock is extremely oversold according to the Stochastic Indicator (20.87).”

Verizon Communications Inc (VZ) “On a long-term technical basis, the stock (VZ) is trading below its 200-day moving average which generally implies it is in a negative trend.

The stock has support at 52.18 and 49.02. If the stock breaks down through support at 52.18 then it will probably continue lower to 49.02. The stock has resistance at 53.67 and at 57.65. If the stock breaks up through resistance at 53.67 then it will probably continue higher to 57.65. The 200-day moving average is at 58.12. This will also act as resistance. However, the stock has broken out of its long-term downtrend according to the fibonacci fan, which is significant. If the stock can form new support above 52.18 look for a rally to previous highs. The stock is extremely oversold according to the Stochastic Indicator (23.04).”