Stadium

Disney

Billion

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Verizon stock price closed at $33.35 with a loss of -0.09% during the intraday session.</a> </li> 
 <li> <span>2</span> <a>VZ stock has been in a strong downtrend since the start of 2023.</a> </li> 
 <li> <span>3</span> <a>The year-to-date return of Verizon communication is -16.14%.</a> </li> 
</ul> 
<p>Verizon stock price has free falling since the start of 2023 due to underwhelming quarterly results and rising interest rates. The surge in AI stock also turned out to be one of the reasons for the downfall as investors had more interest in them.&nbsp;</p> 
<p>The stock fell 6% in the first half of 2023, significantly underperforming the S&amp;P 500, which gained roughly 15.9%. During the start of July 2023, VZ stock faced strong rejection from $37.50 and gained bearish momentum which led to the formation of an annual low at $31.25.&nbsp;</p> 
<p>The stock corrected the downward move and retested $34.95. The second-quarter earnings report again induced a bearish momentum in the price. The company could beat the revenue estimates.&nbsp;</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh3.googleusercontent.com/4bJEufznlqpFWHmOijt2GeT6AZpWMYDJORrbqLgN4FMG8P-97MwtySWNtrc2n3OzeDe0YIOaaZzTCM0_63vzkDBaRLb-8Xk8hmsMnMZcJbz9udM6AavXq68ix1WHNUSietoTJe9f8YJy1lgMAB-SZWs" alt="Verizon Communications (VZ) Stock: Is It a Buy Or a Sell Now?"> 
  <figcaption class="wp-element-caption">
    Source: VZ Stock Price By <a href="https://www.tradingview.com/x/vFh8K5jM/" rel="noopener noreferrer nofollow">TradingView</a>. 
  </figcaption> 
 </figure> 
</div> 
<p>The consensus estimated the revenue to be $33.299 Billion it turned out to be $32.596 Billion, a surprise of -$702.59 Million. Verizon stock price is facing rejection from $33.60 and is striving to rise above it. If the stock price breaks above $33.60, it might rise toward the resistance level of $34.70.&nbsp;</p> 
<p>On the other hand, if VZ stock breaks below $32.45 support, it might melt toward the yearly low and support level of $31.40.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-developments-in-verizon-communication-strong"><strong>Developments In Verizon Communication</strong></h2> 
<p><a href="https://www.thecoinrepublic.com/2023/08/18/vz-stock-price-prediction-will-verizon-communications-break-the-32-level/" rel="noopener noreferrer nofollow">Verizon </a>Communications has recently become the 5G network provider of Tennesse Titans as stated by the football team. The collaboration aims to bring connectivity for fans at the Nissan Stadium in Nashville, Tennessee.&nbsp;</p> 
<p>Verizon is also in talks with Disney over a potential strategic partnership with sports broadcast giant ESPN. The telecom company has also signed a technology deal with HCL tech to help manage networks for business customers in a bid to stem a decline in its wireless business.</p> 
<h3 class="wp-block-heading" id="strong-will-vz-stock-price-retest-yearly-low-strong"><strong>Will VZ Stock Price Retest Yearly Low?</strong>&nbsp;</h3> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh5.googleusercontent.com/f0n2ASg-K_vR84xv7GuI23Xy7tP_loeYcOqIRsQjfw_dpKt8fYnFpG_iL7L9AuT8LmlGPmwyHJ2pyey-Xf2fnqiRL_mYR6EIHh7M22RZegXLL2uZCNH6qdIzJOt63NFnvTUBDKdyC1b64lbUsJZhvaY" alt="Verizon Communications (VZ) Stock: Is It a Buy Or a Sell Now?"> 
  <figcaption class="wp-element-caption">
    Source: VZ Stock Price By <a href="https://www.tradingview.com/x/CH1mVVxq/" rel="noopener noreferrer nofollow">TradingView</a>. 
  </figcaption> 
 </figure> 
</div> 
<p>The <a href="https://www.thecoinrepublic.com/2023/08/18/vz-stock-price-prediction-will-verizon-communications-break-the-32-level/" rel="noopener noreferrer nofollow">stock price</a> has dropped below 20,50,100 and 200-day exponential moving averages, indicating bearish momentum in the price. Chaikin money flow score is hovering near the 0 mark and stands at 0.01, indicating a little bit of a rise in strength.&nbsp;</p> 
<p>The relative strength index stands at 47.34 indicating price is in neutral territory and chances of consolidation continue. The Bollinger bands have contracted indicating a decrease in volatility. VZ stock price has crossed above a 20-day simple moving average and is headed toward the upper band.&nbsp;</p> 
<h4 class="wp-block-heading"><strong>Conclusion&nbsp;</strong></h4> 
<p>The market structure and price action of Verizon Communication is overall bearish but currently, the bulls have started to enter the market to halt further downfall.&nbsp;</p> 
<p>Verizon’s business is not in big trouble but the growth has been pretty sluggish in the telecom industry. The dividend yield of 7.4% looks safe but if the bullish run continues in the stock, investors can find a better place to keep their cash.</p> 
<h5 class="wp-block-heading"><strong>Technical Levels&nbsp;</strong></h5> 
<ul> 
 <li>Major support: $32.45 and $31.40&nbsp;</li> 
 <li>Major resistance: $34.70 and $37.50</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

Verizon Communications (VZ) Stock: Is It a Buy Or a Sell Now?

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Thecoinrepublic.com

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