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Archive - 3/15/2024 - Sign In to see current Signals. |
Verizon Communications (VZ) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | 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.
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