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Verizon Communications Inc., Technical Analysis
11/15/2022 10:27 AMThe shares of Verizon Communications Inc., one of the largest US telecommunications companies, are correcting near 38.00.
On the daily chart, the price is trying to consolidate above the resistance line of the global downward channel with dynamic boundaries at 26.00–34.00.
The four-hour chart shows that the current local growth may continue to this year's global resistance line at 41.00. However, in case of consolidation below the support level of 37.00, a downward scenario is not excluded.
Technical indicators reversed and gave a buy signal: fast EMAs on the Alligator indicator crossed the signal line upwards, and the AO oscillator histogram moved into the buy zone and forms upward bars.
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