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Downtrend ResistanceArchive
- 5/3/2024 -
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Verizon Communications (VZ) Technical Analysis
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| Summary:
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| | It was the negative week for the Verizon Communications (VZ). During the week, the VZ dropped -0.79 points, or -1.99%, and closed at 38.89 on Friday, May 3, 2024. Weekly volume was -18% 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 27.11 and resistance is at 60.98. 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 43.42 on April 4, 2024. VZ gained -13.28 points, or -44.06%, in 25 weeks. The chart has formed a Ascending Triangle chart pattern. The uptrend support line (41.92) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. VZ may retest the broken support line. It is considered to be a resistance line now. 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 below its signal line since April 12, 2024. 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 April 29, 2024 at 40.82 and reached 38.75 on May 2, 2024. VZ lost 2.07 points, or 5.07%, in 3 days. The price is now at the 6.76% retracement level.
 Daily Technical Indicators: [See VZ daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. 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. Use the following link to access Williams' Percentage Range help.
The daily MACD line is below its signal line since April 9, 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.
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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