Verizon Stock Readies For Breakout After Earnings (NYSE: VZ)

An interesting stock to watch is Verizon NYSE: VZ because they returned 13% including dividend. Unfortunately, it is behind AT&T at 41% and T-Mobile 21%.  The earnings report on Friday will likely make or make Verizon.

Verizon shares indicated a new 52-week high, adding 2% in value since mid-October. The emitter concluded a deal with Walt Disney, within which it will provide free 12-month access to the new Disney+ streaming service at all its sites. On October 25, before the market opens, the company will report for the past quarter.

Within the previous week, the stock of Verizon grew by 0.36%. S&P500 went up by 0.03% within the same period.

Support and resistance

The emitter shows a steady uptrend. #VZ quotes approached annual highs. At the moment, the company’s shares are consolidating. Key support and resistance levels are at 60.00 and 61.25, respectively. The instrument has the potential to further growth.

Indicators show the strength of the buyers: the price has consolidated above MA(50) and MA(200); MACD is in the positive zone. Positions are to be opened from key levels.

Comparing company’s multiplier with its competitors in the industry, we can say that #VZ shares are neutral.

Support levels: 60.00, 58.70, 57.50.

Resistance levels: 61.25.

If the price consolidates above the resistance level of 61.25, further growth of #VZ quotes is possible. Potential profits should be locked in by orders at 62.25, 63.25, and 64.00. Stop loss – 60.25.

If the price consolidates below 60.00, one may consider selling #VZ. The moving potential is aimed at the area of 58.50–57.50. Stop loss – 61.00.

Implementation period: 3 days.

Oct-16-19 Initiated Bernstein Mkt Perform

Jul-08-19 Downgrade Citigroup Buy → Neutral $62

May-30-19 Downgrade UBS Buy → Neutral

Dec-12-18 Downgrade Morgan Stanley Overweight → Equal-Weight

Dec-03-18 Downgrade JP Morgan Overweight → Neutral

Oct-29-18 Reiterated Morgan Stanley Overweight $56 → $58

Sep-04-18 Downgrade MoffettNathanson Buy → Neutral

Sep-04-18 Downgrade Barclays Overweight → Equal Weight $56 → $50

Jul-11-18 Initiated Credit Suisse Outperform

Jun-07-18 Resumed Jefferies Hold $52

May-11-18 Upgrade JP Morgan Neutral → Overweight

Apr-25-18 Upgrade SunTrust Hold → Buy

Apr-23-18 Upgrade Barclays Equal Weight → Overweight $56

Mar-28-18 Upgrade HSBC Securities Hold → Buy

Mar-13-18 Initiated Guggenheim Buy $58

Feb-28-18 Upgrade MoffettNathanson Neutral → Buy

Jan-22-18 Upgrade Scotia Howard Weil Sector Perform → Sector Outperform

Jan-16-18 Downgrade MoffettNathanson Buy → Neutral

Jan-02-18 Reiterated KeyBanc Capital Mkts Sector Weight $50 → $53

Dec-14-17 Downgrade HSBC Securities Buy → Hold

 

from
https://alphabetastock.com/2019/10/24/verizon-stock-readies-for-breakout-after-earnings-nyse-vz/