Verizon, buy signal in its third week
Verizon stock gains 2% and keeps knocking on the 49.7 breakout level
Our view last week
Verizon stock closes its second week higher and stays a hair's breadth from the breakout level in the 48.6 area: the MACD just turned bullish and the price is working above the Ichimoku cloud, but contracting volumes and a rejection candle or two hint the momentum is starting to lose its shine. The confirmation week closes positive and the buy signal holds, in a technical analysis picture that still calls for a cautious entry given how close the stock already is to its recent highs.
This week's summary
Verizon stock gains 2% this week and stays a hair's breadth from the breakout level in the 49.7 area: the price is working above the Ichimoku cloud and the weekly MACD keeps improving, with the daily money flow still on the buyers' side. Volumes remain thin, though, and a couple of rejection candles still hint at some hesitation. The buy signal, which fired three weeks ago, holds: the confirmation week closes higher again and the discipline points to keeping the position unchanged.
IQS Phase
79
in tension
Signal Strength
47
medium · weak
Sizing
REDUCED
Ranking
#101 / 167
US stocks in progress
Trade P&L %
+5.64%
from signal to date, no stop loss
Rank position
ranks 101st among the 167 Longs already running for US stocks in our ranking, with a signal strength of 47 out of 100.
Sector context
SectorCommunication Services
Benchmark ETFXLC
Sector regimein strong phase
Performanceweekly -1.37% · monthly +2.01%
VZ belongs to the communication services sector (reference ETF XLC). The sector is classified in strong phase according to our weekly reading.
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