By Mill Chart
Last update: Dec 21, 2023
VERIZON COMMUNICATIONS INC (NYSE:VZ) has been identified as a Technical Breakout Setup Pattern by our stock screener. This pattern typically occurs when a stock takes a pause after a significant rise, indicating the possibility of a continuation in the trend. While it's impossible to predict with certainty, it might be beneficial to monitor NYSE:VZ.
Every day ChartMill assigns a Technical Rating to every stock. The score ranges from 0 to 10 and is determined by evaluating multiple technical indicators and properties.
Taking everything into account, VZ scores 8 out of 10 in our technical rating. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, VZ is only an average performer.
Our latest full technical report of VZ contains the most current technical analsysis.
Besides the Technical Rating, ChartMill also assign a Setup Rating to every stock. This setup score also ranges from 0 to 10 and determines to which extend the stock is consolidating. This is achieved by evaluating multiple short term technical indicators. NYSE:VZ currently has a 8 as setup rating:
Besides having an excellent technical rating, VZ also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a support zone below the current price at 37.29, a Stop Loss order could be placed below this zone.
For a potential trade one would typically wait until the stock breaks out of the consolidation zone to enter the stock and it could be sold again for a loss when it would fall back below the zone.
Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents technical observations generated by automated analysis but does not guarantee any trading outcomes. Always trade responsibly and make independent judgments.
Our Breakout screener lists more breakout setups and is updated daily.
This article should in no way be interpreted as advice in any way. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.
VERIZON COMMUNICATIONS INC
NYSE:VZ (4/26/2024, 7:23:46 PM)
After market: 39.67 -0.01 (-0.03%)39.68
+0.46 (+1.17%)
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