Can Verizon Reconnect With Buyers After Hitting a 52-Week Low?

On Friday shares of VZ sank to a brand new 52-week low on the heels of lacking analyst estimates of Q3 subscribers. 

Let’s examine the charts and indicators. 

On this day by day bar chart of VZ, beneath, we are able to see a draw back value hole on Friday. A brand new 52-week low was reached. Costs are nicely beneath the declining 50-day transferring common line and beneath the weak 200-day line.

The On-Stability-Quantity (OBV) has made new lows for the transfer down as nicely and confirms the statement that sellers of VZ have been extra aggressive than patrons. The Shifting Common Convergence Divergence (MACD) oscillator is bearish.  

On this weekly Japanese candlestick chart of VZ, beneath, now we have a detrimental image. Costs have made a “parabolic” decline the previous few months. VZ is beneath the bearish 40-week transferring common line. The weekly buying and selling quantity has not given us a clue that weak fingers have offered and robust fingers have purchased.

The weekly OBV line is bearish and the MACD oscillator is bearish. 

 

On this day by day Level and Determine chart of VZ, beneath, we are able to see that costs have reached and exceeded a draw back value goal within the $36 space. 

 

On this weekly Level and Determine chart of VZ, beneath, we used a 5 field reversal filter. Right here the software program suggests a value goal within the $31 space. 

 

Backside line technique: In full disclosure I’ve been a VZ buyer for over 25 years however that loyalty doesn’t make the charts extra engaging. VZ might fall additional within the weeks forward.