Verizon Is Moving Above Resistance
Published on Wednesday, 12 December 2012 06:08 Written by TradersHuddle Wire
New York, December 12th (TradersHuddle.com) - Shares of Verizon Communications, Inc. (NYSE:VZ) closed the session at $44.44 just above calculated resistance at $43.77. The stock moved to what appears to be a higher range, spurring attention from momentum buyers.
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.
The stock was trading in a well defined range with support at $40.51 and resistance at $43.77. Given that this range was broken, traders will be closely monitoring Verizon's price action to gather clues on the future direction.
From a technical perspective, it can be expected that previous resistance becomes support, as the new range gets defined. However, given that Verizon is still near the broken resistance level, traders will be focusing on the $43.77 level to see if the stock holds the breakout without rolling over.
- KeyCorp Reports 2013 Dodd-Frank Act Mid-Cycle Stress Test Results
- KeyCorp To Present At The Barclays Global Financial Services Conference
- Randy Paine Named President Of KeyBanc Capital Markets
- KeyCorp Third Quarter 2013 Earnings Release Date And Conference Call
- KeyCorp Closes On Sale Of Victory Capital Management And Affiliate
- KeyCorp Reports Second Quarter 2013 Net Income of $193 Million, or $.21 Per Common Share
- KeyCorp Declares Quarterly Cash Dividend Of Five And One Half Cents
- KeyBank Selected To Pilot U.S. Global Business Solutions Initiative To Increase Small Business Exports
- Organic Growth, Not Merger and Acquisitions, is Driving Middle Market Expansion
- KeyCorp Second Quarter 2013 Earnings Release Date And Conference Call
Related Partner Headlines
Recent Trading Ideas
Latest Partner Headlines