Important Stocks To Watch - Breakout Stocks/ Important Developments

Long Term Breakouts To Watch

Stocks At 50 MA & 200 MA

Technical Analysis Of Verizon

Let's take a look at Verizon's stock, VZ from a technical analysis point of view. We will be looking at the stock chart of this company. Do complement it with your own fundamental analysis.

February 19 2019

Just by looking at the daily chart of VZ, we can see that this stock is holding up very well above its rising 200 MA. This is significant because it shows us that the stock is of investing quality and it is likely to continue moving higher in the long term.

The yellow line above is the daily 200 MA. Somehow this stock has been able to find support at its rising 200 MA many times. This provided traders with quite a few trading opportunities.

The latest setup was a bottoming tail at the 200 MA.

The declining 50 MA may provide VZ with some resistance but I think it will most likely be able to trade above it. And if it can also trade above the downtrend line then VZ is in for some nice bullish move up.

We can gain confidence of VZ's bullish bias by looking at the weekly chart of VZ above. Notice how the stock is still trading above its weekly uptrend line. This time it did not even drop anywhere near the trend line.

That's because there is quite a lot of support which I have highlighted in green. A previous high support and price consolidation support. Some knowledge of support and resistance goes a long way and if you do not understand where I got this support from, do hop on to the Trading Course section to learn more about this concept.

The presence of 2 bottoming tails in this recent lows shows that VZ does not wish to go lower.

The stock may be setting up a weekly double bottom as well and if it can trade back above the downtrend line I have drawn then it is very likely to move higher.

The target for this move will be the previous high. Which is about $60 to $62.

Charts with the Freestockcharts.com label are courtesy of Freestockcharts.com

Charts with the investing.com logo are courtesy of Investing.com powered by Trading View

  • Help support this page and press the Facebook Like button below. Thanks!

Join Dstockmarket's Facebook Page 

Recent Articles

  1. Stock Market Analysis May 2022

    May 30, 22 07:20 AM

    What is the market doing and what is it likely to do?

    Read More

  2. April 2022 Stock Market Analysis

    Apr 27, 22 09:01 AM

    As we enter April, will we continue to move higher or will there be a correction coming?

    Read More

  3. Technical Analysis Of AAPL : Making Sense Of Apple's Stock Price

    Apr 13, 22 11:46 PM

    Apple is one of those stocks that we should look at almost every day. The reasons is because it is a component of the Dow Jones, the S&P 500 and the Nasdaq.

    Read More

  4. Stocks At Their 50 MA And 200 MA

    Apr 12, 22 09:38 AM

    Here are a list of stocks that are at their 50 MA and 200 MA. The 50 day moving average and 200 day moving average can be a support area where stocks bounce off

    Read More

  5. Stocks To Watch - Important Developments

    Apr 12, 22 09:34 AM

    Here are a list of stocks that have broke out or about to break out. Breakout stocks can often give us a good reward to risk ratio.

    Read More

New! Comments

Have your say about what you just read! Leave me a comment in the box below.