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Look for Shares of Verizon Communic to Potentially Pullback after Yesterday's 1.10% Rise

By Shiri Gupta

Verizon Communic (NYSE:VZ) traded in a range yesterday that spanned from a low of $59.31 to a high of $59.47. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $59.42 on volume of 3.4 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Verizon Communic has traded in a range of $52.28 to $62.22 and is now at $59.61, 14% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

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: rebounders verizon communic

Ticker(s): VZ