Verizon Communications is neutral

38.9 is our pivot point.

Our preference

Look for a drop towards 38.9 before a bounce.

Alternative scenario

Below 38.9, expect 37.9 and 37.2.

Comment

The RSI is above its neutrality area at 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI should trigger further losses. Moreover, the stock is trading under its 20 day moving average (40.2445) but above its 50 day moving average (39.9748).

Supports and resistances

43.8 **

43.1 *

42.4 **

41.8

40.24 (USD-last)

39.4

38.9 **

37.9 *

37.2 **

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