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Verizon Communications Inc.: technical analysis

1/5/2023 10:09 AM

Shares of Verizon Communications Inc. are trading at 41.00.

On the daily chart, the price is in an uptrend, having consolidated above the initial Fibonacci 23.6% correction at 39.10 yesterday, which signaled the start of a full-fledged correction.

On a four-hour chart, the local corridor has dynamic boundaries of 42.00–38.00, and the asset is testing its upper border and the Fibonacci 38.2% base correction level at 41.60, which is the key resistance before further growth.

Technical indicators show a growing buy signal: fast EMAs on the Alligator indicator crossed the signal line upwards and expand the range of fluctuations, and the AO oscillator histogram began forming upward bars.

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