4VZ trade ideas
Not very sure about VerizonTouching SMA200 now, looking for support. If support holds, a trend channel has successfully been formed.
RSI making higher lows.
Positive MACD crossover
Price breakout from a negative formation around 49, but fell a little afterwards.
Waiting to get confirmation that SMA200 holds and trend channel is formed. Setting an alert at close price above 50. If price cross 50, I get in.
From www.marketwatch.com
Average Target Price: 55.50
Analysts Recommendations
BUY 7
OVERWEIGHT 0
HOLD 25
UNDERWEIGHT 0
SELL 0
Verizon tests resistance line at 50% fib retracement- short termVZ has had a good run, while other tech stocks plummet, VZ seems to be holding on to its lead. This is the third time it battles with the $50 mark, while it's latest cycle downward has bounced and hit this resistance line. If resistance is broken and VZ actually closes above the 50%, we can see good upward movement. However, expect stock to linger, perhaps another dip, as it struggles to gain traction at this level.
Next level up, short term would be $51.49. Next level down we would see a retrace back to $46.15 ish. I'm purchasing more on the dip, if it comes.
October 19 Earnings: Verizon Communications: Recovery TimeThe company has been under immense pressure overcoming spectrum crunch and stiff competition in a saturated market.
Verizon's purchase of Yahoo!'s services will allow the company to boost its online offerings and penetrate a new market.
The company's new prepaid offering will aid revenue streams as well.
Weaknesses in the company is impact from Hurricane season with decreased services output.
A further weakness is the still saturated market with stiff competition forcing lower prices.
I believe the company's turnaround phase is in full effect and the company should report a solid beat.
I'm starting Verizon with a $52.50 PT for the post-earnings move.
