Nearest Resistance: $48
Nearest Support: $45.50
Catalyst: Technical Setup
>>5 Rocket Stocks to Buy in March
Shares of $195 billion telco Verizon Communications
are slipping this afternoon on big volume thanks to a technical setup that's forming in shares. Year-to-date, shares of VZ are down almost 4%, and that trajectory looks likely to continue into March.
Verizon is currently stuck in a downtrending channel, a bearish setup that's about as simple as it gets. As VZ gets swatted down from trend line resistance for a seventh time since late October, it makes sense to sell the bounce.
Check Out Our Best Services for Investors
Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts