Verizon Communications may rise to 47.00 - 48.00

Our pivot point is at 42.6.

Our preference

As long as 42.6 is support look for 47.

Alternative scenario

The downside breakout of 42.6 would call for 41 and 40.1.

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 below its 20 day moving average (44.4165) but above its 50 day moving average (42.4874).

Supports and resistances

48.9 **

48 *

47 **

46.1

44.11 (USD-last)

43.2

42.6 **

41 *

40.1 **

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