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Possible Bearish Inside Day Candle Pattern Detected for Verizon Communic (NYSE:VZ)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Verizon Communic (NYSE:VZ) based on the price action in the company's shares. Today's price range of $59.88 and $60.10 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Verizon Communic may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Verizon Communications Inc., through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide.

In the past 52 weeks, Verizon Communic share prices have been bracketed by a low of $52.28 and a high of $61.58 and are now at $60.03, 15% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.

Verizon Communic (NYSE:VZ) is currently priced 7.1% above its average consensus analyst price target of $55.77. The stock should discover initial support at its 200-day moving average (MA) of $57.10 and subsequent support at its 50-day MA of $56.79.

SmarTrend is monitoring the recent change of momentum in Verizon Communic. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Verizon Communic in search of a potential trend change.

Keywords: bearish inside day candle verizon communic

Ticker(s): VZ