On Friday shares of VZ sank to a new 52-week reduced on the heels of lacking analyst estimates of Q3 subscribers.
Let’s verify the charts and indicators.
In this every day bar chart of VZ, underneath, we can see a downside price tag gap on Friday. A new 52-7 days very low was arrived at. Selling prices are perfectly below the declining 50-working day moving regular line and down below the weak 200-day line.
The On-Harmony-Volume (OBV) has designed new lows for the move down as very well and confirms the observation that sellers of VZ have been extra aggressive than potential buyers. The Moving Average Convergence Divergence (MACD) oscillator is bearish.
In this weekly Japanese candlestick chart of VZ, below, we have a unfavorable picture. Costs have designed a “parabolic” decline the past several months. VZ is beneath the bearish 40-7 days moving average line. The weekly buying and selling volume has not specified us a clue that weak arms have bought and potent palms have purchased.
The weekly OBV line is bearish and the MACD oscillator is bearish.
In this every day Issue and Figure chart of VZ, beneath, we can see that costs have achieved and exceeded a draw back value goal in the $36 area.
In this weekly Level and Figure chart of VZ, underneath, we used a five box reversal filter. Below the application implies a value concentrate on in the $31 spot.
Bottom line technique: In comprehensive disclosure I have been a VZ buyer for over 25 years but that loyalty does not make the charts extra eye-catching. VZ could drop further in the weeks ahead.
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