Verizon Is Close to Resistance
Published on Wednesday, 05 December 2012 05:56 Written by TradersHuddle Wire
New York, December 5th (TradersHuddle.com) - Shares of Verizon Communications, Inc. (NYSE:VZ) are trading very close to calculated resistance at $43.77. The stock ended the trading session at just $43.67, which is near levels that make it difficult to buy or start a position.
Verizon Communications Inc. (NYSE:VZ) is an integrated telecommunications company that provides wire line voice and data services, wireless services, Internet services, and published directory information. The Company also provides network services for the federal government. Verizon is the owner of the largest wireless network, with more subscribers in the U.S. Verizon was founded in 1983 and is based in New York, New York.
Verizon's stock range is defined by its calculated support defined at $40.51 and by the resistance level at $43.77; the stock is clearly over-extended from support, making it harder for participants to establish fresh longs.
Traders don't have a clear entry point for Verizon. However, as the stock pulls back towards $40.51 it will definitely provide a reference point to establish a trade. On the other hand, if the stock breaks above its resistance level at $43.77 then traders will get an opportunity to enter the stock as it moves to a higher range.
- AT&T And America Movil To Provide Deeper National Reach For Advanced Enterprise Services Across Latin America
- AT&T 4G LTE Available In Willimantic
- AT&T 4G LTE Available In Torrington
- AT&T And The University Of Kansas Team Up To Enhance Wireless Coverage On Lawrence Campus
- AT&T 4G LTE Available In Fargo
- AT&T 4G LTE Available In Amarillo
- Benefitfocus Announces Pricing of Initial Public Offering
- Trends of China Gear Industry 2013 Analysis & Reviewed in New Research Report at RnRMarketResearch.com
- Product Launch Formula 4.0 Bonuses Total $5000 at BrianHanson.com
- Datex Presents Motorola Solutions Webinar “Is It ‘Smart’ to Use Smartphones for the Enterprise?”
Related Partner Headlines
Recent Trading Ideas
Latest Partner Headlines