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After Yesterday's Rally of 1.20% Shares Could Potentially Pullback

By James Quinn

Verizon Communic (NYSE:VZ) traded in a range yesterday that spanned from a low of $61.14 to a high of $62.10. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $61.71 on volume of 5.6 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Verizon Communic share prices have been bracketed by a low of $52.28 and a high of $62.10 and are now at $61.53, 18% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has risen 0.2%.

SmarTrend recommended that subscribers consider buying shares of Verizon Communic on September 6th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $58.79. Since that recommendation, shares of Verizon Communic have risen 3.4%. We continue to monitor VZ for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders verizon communic

Ticker(s): VZ