Solid News

The stock quotes of Verizon Communications Inc. continue to trade within the framework of a long-term downward trend, but this week they are making an attempt to grow.

The key for the "bulls" is the lower level of the Murray trading range of 37.50 ([0/8]), supported by the middle line of the Bollinger Bands. If the price consolidates above it, the growth will be able to continue to the reversal level of 40.62 ([2/8]) or to the lower boundary of the central Murray channel 42.19 ([3/8]). With a breakdown of the level of 34.38 ([-2/8]), it will be possible to resume the decline to the level of 31.25 ([2/8] for W1).

In general, the downward trend in the market persists, which is confirmed by the downward reversal of the Bollinger Bands, however, the decrease in the MACD histogram in the negative zone and the upward reversal of the Stochastic do not exclude the continuation of upward corrective growth, but its potential is seen to be limited.      

Resistance levels: 37.50, 40.62, 42.19. | Support levels: 34.38, 31.25.