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Verizon Communic Set to Possibly Rebound After Yesterday's Selloff of 1.03%

By Amy Schwartz

Verizon Communic (NYSE:VZ) traded in a range yesterday that spanned from a low of $47.37 to a high of $47.92. Yesterday, the shares fell 1.0%, which took the trading range below the 3-day low of $47.77 on volume of 3.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

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 $47.42, 11% 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 is tracking the current trend status for Verizon Communic and will alert subscribers who have VZ in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders verizon communic

Ticker(s): VZ