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Verizon Communications Inc., Murray Analysis

8/9/2022 4:03 PM

Quotes of Verizon Communications Inc. have been declining since the second half of June.

During this time, the price broke down the upper limit of the Murray trading range of 50.00 ([8/8]) and dropped to the central mark of 43.75 (Murray [4/8]), near which it is now. Consolidation of the price below it will contribute to the development of a decline to the levels of 42.19 (Murray [3/8]) and 40.62 (Murray [2/8], the lower limit of the descending channel). The key for the "bulls" is the reversal level of 46.88 (Murray [6/8]), supported by the middle line of the Bollinger Bands. Its breakout will give the prospect of price growth up to the 50.00 mark, however, such a variant of the movement of quotations seems less likely, since technical indicators point out the continuation of a downward trend: the Bollinger Bands and the Stochastic are directed downwards, the MACD histogram is stable in the negative zone.

Resistance levels: 46.88, 48.44, 50.00. | Support levels: 43.75, 42.19, 40.62.

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