Verizon Communications may rise to 43.60 - 44.60

Our pivot point stands at 38.7.

Our preference

Short term rebound.

Alternative scenario

The downside breakout of 38.7 would call for 37.1 and 36.1.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the share stands above its 20 day moving average (40.2285) but below its 50 day moving average (40.6414).

Supports and resistances

45.7 **

44.6 *

43.6 **

42.7

40.61 (USD-last)

39.4

38.7 **

37.1 *

36.1 **

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