Verizon Communications may rise to 47.70 - 48.70

Our pivot point stands at 43.2.

Our preference

As long as 43.2 is support look for 47.7.

Alternative scenario

The downside breakout of 43.2 would call for 41.6 and 40.7.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The stock could retrace in the short term. Moreover, the stock is above its 20 and 50 day moving average (respectively at 44.176 and 42.1668).

Supports and resistances

49.6 **

48.7 *

47.7 **

46.8

44.52 (USD-last)

43.8

43.2 **

41.6 *

40.7 **

Number of asterisks represents the strength of support and resistance levels.