Annual Forecast for Verizon Communications – 2020

PUBLISHED: Feb 29 2020 @ 23:02 | Comments (0) | More info about Azeez Mustapha

Verizon Communications stock (NYSE:VZ) has dropped sharply, following a long period of sideways movement. The outlook for this year remains bearish.

Price was largely directionless from October 2019 until February 2020, when it began to trend downwards. The market is below the EMA 21 and the William’s % Range period 20 is also in the oversold territory.

That means the market is very weak irrespective of the current bounce (which is just a rally attempt in the context of a downtrend). The market remains weak and it would continue going downwards until it reaches the support levels at 53.00, 52.00 and 51.00. The ultimate target for sellers is the support level at 50.00.

Trading realities: Trading realities

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

Follow @ItuGlobal

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.