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- 3/15/2024 -
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Verizon Communications (VZ) Technical Analysis

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Summary:
Weekly :Broken trend support line
Daily :20 Day Moving Average has crossed below the 50 Day Moving AverageMACD bullish divergencePrice is near the Fibonacci 23.6% retracement levelThe Bollinger Bands are historically close together
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It was the negative week for the Verizon Communications (VZ). During the week, the VZ gave back -0.02 points, or -0.05%, and closed at 39.49 on Friday, March 15, 2024. Weekly volume was -30% below average.

Long-term trend: [See VZ long-term trend chart]
A long-term downtrend had started on December 20, 2019 at 62.22 and reached 30.14 on October 6, 2023. VZ lost 32.08 points, or 51.56%, in 198 weeks. The chart has formed a Broadening Right-Angled, Descending Wedge chart pattern. The trend support level is at 27.83 and resistance is at 61.02. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Right-Angled, Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Descending Wedge pattern in a long-term trend.

Medium-term trend: [See VZ medium-term trend chart]
A medium-term uptrend had started on October 6, 2023 at 30.14 and reached 43.21 on January 31, 2024. VZ gained -13.07 points, or -43.36%, in 16 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (45.00) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.

Weekly Technical Indicators: [See VZ weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since October 20, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See VZ short-term trend chart]
A short-term downtrend had started on March 13, 2024 at 40.50 and reached 39.14 on March 15, 2024. VZ lost 1.36 points, or 3.36%, in 2 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See VZ daily technical indicators chart]
Daily technical indicators are neutral. Daily MACD has bullish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals.

The daily MACD line is below its signal line since February 5, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.

The distance between the Bollinger Bands (4.25%) is close to one year low (4.15%). It is 56.99% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 46.86
Williams' Percentage Range (W%R) 77.10
Lane's Stochastic (%D-Slow) 38.91
Greed/Fear Indicator (GFI) 36.22
Moving Average Converg./Diverg. (MACD) -0.08 Bullish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 54.43
Williams' Percentage Range (W%R) 30.20
Lane's Stochastic (%D-Slow) 49.23
Greed/Fear Indicator (GFI) 57.65
Moving Average Converg./Diverg. (MACD) 1.21
Trading Signals
Description Value Chart
Quarterly Trendline Support 45.00
Upper Bollinger Band 40.92
Weekly Stochastic Crossing 40.86
Parabolic System 40.52
Monthly Trendline Resistance 40.46
50 Day Moving Average 40.33
20 Day Moving Average 40.14
Daily Stochastic Crossing 39.64
Price 39.49
Monthly Trendline Support 39.46
Lower Bollinger Band 39.24
Sector and Industry
Description Name Rank
Sector Communication Services 5
Industry Integrated Telecommunication Services 35
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 40.50
High Date 03/13/2024
Low 39.14
Low Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 41.15
High Date 02/23/2024
Low 39.14
Low Date 03/15/2024
Description Value
Direction Down
Chart Pattern Descending Triangle
Status Test Support
Resistance 40.46
Support 39.46
High 43.21
High Date 01/31/2024
Low 39.14
Low Date 03/15/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 47.77
Support 45.00
Low 30.14
Low Date 10/06/2023
High 43.21
High Date 01/31/2024
Description Value
Direction Down
Chart Pattern Broadening Right-Angled, Descending Wedge
Status Valid
Resistance 61.02
Support 27.83
High 62.22
High Date 12/20/2019
Low 30.14
Low Date 10/06/2023
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.