Shares of Verizon Communications (NYSE:VZ) opened today above their pivot of $42.38 and have already reached the first level of resistance at $42.70. Should the shares continue to rise, the resistance pivots of $42.85 and $43.32 will be of interest.

Over the past year, Verizon Communications has traded in a range of $36.80 to $48.77 and is now at $42.85, 16% above that low. The 200-day and 50-day moving averages have moved 0.22% higher and 0.55% lower over the past week, respectively.

Potential upside of 9.5% exists for Verizon Communications, based on a current level of $42.85 and analysts' average consensus price target of $46.94. The stock should find initial resistance at its 200-day moving average (MA) of $43.16 and further resistance at its 50-day MA of $43.37.

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