The shares of Verizon Communications Inc., one of the largest US telecommunications companies, are correcting at 38.00.
On the daily chart, the price moves within a downtrend and yesterday fell after the breakdown of the support line of the rising corridor with dynamic boundaries of 45.00–40.00.
On the four-hour chart, it can be seen that another marker was executed yesterday, which is necessary to continue the decline: reaching the previous local low at 38.50, after consolidation below which the movement may continue to the global low of last year at 34.60.
Technical indicators keep a sell signal: fast EMAs on the Alligator indicator have been below the signal line for a long time and are expanding the range of fluctuations, while the AO histogram is forming downward bars in the sell zone.