Verizon bounces 3.5%, the decline holds its ground
Verizon climbs 3.5% and gets boxed between support and resistance
Verizon bounces 3.5%, the decline holds its ground
Our view last week
Verizon slipped just 1% this week, but the picture underneath tells a different story: the decline is tightening again, with money flow sinking back negative and the weekly MACD back in negative territory. Last week's read suggested the move was losing its edge; now it's turning serious again. On the daily chart a clean double bottom in the 41 area gave a 7% rebound, with the RSI near oversold — a brief respite inside a decline that, with the ADX climbing, is regaining conviction.
This week's summary
Verizon adds another 3.5% this week, extending the rebound that began with the double bottom in the 41 area: the price is boxed between the 20-day moving average and the daily Bollinger Band above, and the daily VWMA below. The weekly RSI has climbed back toward 45, far from last week's near-oversold level, but money flow stays negative and the distribution phase keeps going: the decline hasn't loosened its grip yet. Verizon stock remains a case worth following in this week's technical analysis.
IQS Phase
84
in tension / maturity
Signal Strength
3
decline losing steam
Sizing
MINIMUM
Ranking
#115 / 140
US stocks
Trade P&L %
+5.32%
from signal to today
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