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Verizon Communic Set to Possibly Pullback After Yesterday's Rally of 1.16%

By David Diaz

Verizon Communic (NYSE:VZ) traded in a range yesterday that spanned from a low of $48.31 to a high of $48.95. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $48.46 on volume of 4.1 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 $42.80 and a high of $56.95 and are now at $48.90, 14% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

SmarTrend recommended that its subscribers protect gains by selling shares of Verizon Communic on February 6th, 2018 by issuing a Downtrend alert when the shares were trading at $50.04. Since that call, shares of Verizon Communic have fallen 3.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders verizon communic

Ticker(s): VZ