Current trend

Shares of Verizon Communications Inc., one of the largest American telecommunications companies, have been growing confidently for the second month. The price has moved into the positive part of the main Murrey trading range, left the long-term ascending channel, breaking through its upper border, and is now testing 44.53 (Murrey level [ 1/8]). After consolidation above, it may reach 45.31 (Murrey level [ 2/8]) and 46.88 (Murrey level [ 2/8], W1). In case of consolidation below 42.97 (Murrey level [7/8]), supported by the middle line of Bollinger Bands, the quotes will return into the range and decline to ​​41.41 (Murrey level [5/8]) and 40.62 (Murrey level [4/8]).

Technical indicators reflect the continuation of the upward trend: Bollinger Bands and Stochastic are reversing upwards, and the MACD histogram is stable in the positive zone.

Support and resistance

Resistance levels: 44.53, 45.31, 46.88.

Support levels: 42.97, 41.41, 40.62.

Trading tips

Long positions may be opened above 44.53, with the targets at 45.31, 46.88, and stop loss 43.95. Implementation period: 5–7 days.

Short positions may be opened below 42.97, with the targets of 41.41, 40.62, and stop loss 43.50.