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Uptrend Broken SupportArchive
- 4/26/2024 -
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Verizon Communications (VZ) Technical Analysis
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| Summary:
| | | Weekly : | | Daily : 
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| | It was the negative week for the Verizon Communications (VZ). During the week, the VZ dropped -0.81 points, or -2.00%, and closed at 39.68 on Friday, April 26, 2024. Weekly volume was 21% above 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 27.22 and resistance is at 60.99. 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 price is now at the 28.16% retracement level.
 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. The distance between MACD and the signal line is low, but getting bigger. 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 4, 2024 at 43.42 and reached 38.56 on April 22, 2024. VZ lost 4.86 points, or 11.19%, in 18 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 Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. 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.
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