Shares of Verizon Communications Inc., one of the largest US telecommunications companies, are correcting at 30.50.

On the daily chart, the price is held within the global downward corridor with dynamic boundaries of 33.50–29.00.

On the four-hour chart, after reaching the resistance line of 35.00, the quotes reversed downwards and overcame the local low of 32.00, which increases the likelihood of further decline, and the most likely scenario is reaching the year’s low of 30.00, renewed on Friday.

Technical indicators are strengthening the sell signal: fast EMA on the Alligator indicator are moving away from the signal line, and the AO histogram is forming downward bars.

Trading tips

Short positions may be opened after the price declines and consolidates below 30.00 with the target at 28.00. Stop loss – 31.00. Implementation period: 7 days or more.

Long positions may be opened after a reversal, growth, and consolidation of the price above 31.30 with the target at 33.50. Stop loss – 30.50.