Million

Resistance

Billion

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Verizon Communications stock is currently trading at $34.34 with a minor incline of 0.29% in the last 24 hours.</a> </li> 
 <li> <span>2</span> <a>The VZ market capitalization is $144.365 Billion.</a> </li> 
</ul> 
<p>Verizon Communications Inc. is a leading provider of wireless, broadband, and media services in the U.S. and overseas.</p> 
<p>Verizon surpassed Wall Street expectations in its second-quarter 2023 earnings. The company posted a net income of $4.65 Billion, an EPS of $1.10, and an adjusted EPS*, excluding special items, of $1.21.</p> 
<p>Second-quarter adjusted earnings fell to $1.21 per share from $1.31 per share in the same period of last year. Unadjusted profit declined to $4.77 Billion or $1.10 per share from $5.32 Billion or $1.24 per share last year.</p> 
<p>Total operating revenues dropped 3.5% year-over-year to $32.60 Billion during the quarter. A slight increase in revenue from ‘Services’ and ‘Other’ was more than offset by weakness in the Wireless Equipment segment.</p> 
<h2 class="wp-block-heading" id="strong-verizon-communications-stock-technical-analysis-strong"><strong>Verizon Communications Stock Technical Analysis</strong></h2> 
<p>The price of Verizon Communications <a href="https://www.thecoinrepublic.com/2023/07/26/snap-stock-fell-18-in-after-hours-after-quarterly-earnings/" target="_blank" rel="noopener noreferrer nofollow">stock</a> is below the 50 and 200 EMA, indicating a downward trend. The price may continue to decline in the next week if the sellers keep the pressure on. The buyers have no chance to take over the market right now. The price may find some support at the previous lows or the psychological level of $30.00.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh6.googleusercontent.com/ofUbTMmjqdBBAnA1jDMtjZ19Yo8R3W85ddy0mDpd5tVrpvTRte5D0iil_1klkWY25Ib7fd3lpZlsRnQWajtliJM-loMISD-JjUkID5a0CAua0tc_-iwrMfWwKfrzytM9gUF2iQ6TWceFvVDn4RLHrw" alt=""> 
  <figcaption class="wp-element-caption">
    Source: (VZ)/US DOLLAR .1D by TradingView&nbsp; 
  </figcaption> 
 </figure> 
</div> 
<p>The MACD is also in a disadvantageous zone. The MACD is a line at -0.6045 and the signal line at -0.5981 is under the zero line, implying that the MACD is in the negative zone and is giving bearish signs.</p> 
<p>The current value of RSI is 46.00 points (press time). The 14 SMA line is currently under the middle line, around 37.87 points, moving toward the overbought zone. RSI currently shows bullish sentiment in the market. The price needs a bullish crossover or a positive catalyst to bounce back.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh6.googleusercontent.com/i_0ruZidWFhbi3J-uCkwwelnNmcWnbQscCTnZeBrDdYhq8FABh_IXnGZmYIkfHikuZ0gO1lMEfoIwprl2j0YIF9WpFtRZ7vzJzXjWrmKq0AgXBZuoJ6xeycXFYOzrCiEQrGgxZ08rIMyTyHTAZUzGg" alt=""> 
  <figcaption class="wp-element-caption">
    Source: (VZ)/US DOLLAR .1D by TradingView 
  </figcaption> 
 </figure> 
</div> 
<p>Verizon Communications stock (VZ)’s average trading volume for the last 24 hours is 27.916 Million and the average volume for the last 10 days is 44.877 Million.&nbsp;</p> 
<h4 class="wp-block-heading"><strong>Summary</strong></h4> 
<p>VZ price prediction indicates a downward trend in the chart. However, sellers are controlling the higher levels. The share price is near the supply zone and sellers will attempt to push the price down near the supply zone. The price movement shows that if the price breaks the resistance, then it will rise more in the near future. The investors’ sentiments regarding stock prices are turning negative. Multiple indicators including EMA, RSI, and MACD have given negative signs about Verizon Communications stock as of now at the time of writing.</p> 
<h5 class="wp-block-heading"><strong>Technical Levels:</strong></h5> 
<ul> 
 <li><strong>Support – </strong>The current support level is 31.31.</li> 
</ul> 
<ul> 
 <li><strong>Resistance –</strong>The current resistance level is 37.06.</li> 
 <li></li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The analysis given in this article is for informational and educational use only. Do not take this information as financial or trading advice. Trading and investing contain financial risk. Before making any investment or trading decision, please consider your risk profile and circumstances.</p>

Verizon Communications Stock Price Prediction: Will VZ Hit $42?

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