Analysis of Verizon’s Stock Performance on Wall Street
There are no significant changes in Verizon’s stock performance in the U.S., as the chart shows that the recovery initiated in October 2023 remains fully underway, which is a positive signal.
It is also noteworthy that the stock remains above the 40-period moving average on the weekly chart. Additionally, it appears to be attempting to reclaim the 200-period moving average. The stock has been trading below this level since August 2021, so successfully surpassing it would signal strength in Verizon, suggesting further recovery potential for the stock.
Many investors are drawn to Verizon for its dividend yield, which is currently around 6.11%, if I’m not mistaken. However, it’s important to remember that dividend yield alone shouldn’t dictate whether a company is added to your portfolio.
Key Resistance and Support Levels for Verizon
On the upside, the first significant resistance level for Verizon’s stock is around $44.63 per share, where the 200-period moving average on the weekly chart is located.
If the stock can break above this level, it would signal recovery and could set the next bullish target at $47.50. Furthermore, if the stock surpasses that level, the next key target would be around $50.
On the downside, the first level to watch is $43. A return to this level and subsequent breach would not be a positive short-term signal, as it could indicate weakness and lead the stock to test the $42.50 level as the next bearish target.
A little lower, at $41.34, the important 40-period moving average on the weekly chart is positioned. While there’s currently no indication that the stock might revisit this level, it’s worth keeping in mind.
Let’s see how the situation develops in the upcoming sessions.
Summary of Verizon’s Current Position
At the moment, it’s clear that the focus remains on sustaining upward momentum and reclaiming the key 200-period moving average on the weekly chart.
On the downside, caution should only be exercised if the stock loses the 40-period moving average on the weekly chart once again.
Finally, always remember to set a stop-loss for every position taken in the market, as outcomes can be unpredictable, and it’s crucial to avoid getting trapped in a stock.
Analysis based on the chart for Verizon’s stock performance on Wall Street.
Llevo en los mercados desde hace mas de 20 años y he vivido varias crisis financieras, las cuales de todas se aprende. Mi mejor cualidad en los mercados es la paciencia. Sin ella, no seguiría en este mundo. Asesor fiscal y financiero.
