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Verizon Communications Inc. Market Update

1/17/2023 2:48 PM

The stocks of Verizon Communications Inc., one of the largest American telecommunications companies, continue to trade in a global corrective trend near the 42.00 mark.

After a large-scale campaign to upgrade networks in the USA to the 5G band, Verizon Communications Inc. began to face difficulties regarding the impact of these networks on some devices. In particular, this affected aviation, since the influence of radiation from towers can cause incorrect operation of altimeters in aircraft. Against this background, the company decided to suspend the use of the 5G band "C" until air carriers upgrade their equipment. These actions have not yet affected the company's activities in any way, but they may threaten negative consequences if the adaptation takes too long.  

The financial income report for Q4 will be published very soon and will be available for evaluation on January 24. Thus, according to preliminary forecasts, revenue may reach 35.22B dollars, which is lower than the previous estimate of 35.3B dollars and higher than the 34.24B dollars shown in the previous quarter. Earnings per share are expected to be in the range of 1.19 dollars, which is lower than the previous quarter's figure of 1.32 dollars.

Verizon Communications Inc. continues to pay one of the highest dividends on the market, which on November 1 amounted to 6.62% per annum. The new payout is scheduled for February 1 and will reach 0.6525 dollars per share, which corresponds to a very high yield of 6.19%. 

On the daily chart, quotes continue to trade above the resistance line of the correction channel with dynamic boundaries of 41.00–37.00.

Technical indicators still hold a buy signal, despite the slowdown of recent days: the range of EMA fluctuations on the alligator indicator is quite wide, and the histogram of the AO oscillator forms bars with a downward trend, while being in the buying zone.      

Support levels: 40.90, 38.50. | Resistance levels: 42.60, 46.00.

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