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Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>VZ&nbsp; stock price surged 22% in the intraday session on September 8 to close at $0.93.</a> </li> 
 <li> <span>2</span> <a>Verizon Communications Inc. (NYSE: VZ) stock price appeared to be pulling back after gaining more than 75% over the last 5 days.&nbsp;</a> </li> 
 <li> <span>3</span> <a>The price hike has given some hope to investors as VZ stock has been one of the worst-performing stocks in recent years.&nbsp;</a> </li> 
</ul> 
<p>Verizon Communications Inc. (VZ) stock price has shown weak gains after hitting a record low of $31.25 in mid-July 2023. The stock price sentiments were pessimistic which dragged the price to hit a record low before the earnings.&nbsp;</p> 
<p>The VZ company reported quarterly results on Tuesday, 25 July. The reported earnings were slightly better than the Wall Street expectation after which the stock recovered.&nbsp; The daily chart illustrates that the recovery seems to be a pullback rather than a reversal.&nbsp;</p> 
<p>The price is headed upwards forming a bearish flag pattern, however, the recovery is lacking momentum indicating that weak buyers are participating in the game. Recently, the VZ share price has suffered rejection from the 50-EMA and struggling to sustain near it.&nbsp;</p> 
<p>&nbsp;The analysts are offering a 1-year price forecast for Verizon Communications Inc. stock. They have given a maximum estimate of $45 with a potential of more than 32% to the upside and a drawdown of 6.26% to fall back to $31.74.&nbsp;</p> 
<p>Verizon Communications Inc. (NYSE: VZ) engages in the provision of communication, information, and entertainment products and services.&nbsp;</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh6.googleusercontent.com/JcYw5sAUZmNyr1_xhf9Wig7HcsqTv7-eVvVZXSqCKAd9ry4gg-w2GUe6yKMNgfsQYZCL_cDxcNbFbUKsSYrgHcDc5VATwVX9hoGaeTVw_TYfPmx7H0JPmySnl_H7k7uvIJK3xzMrIrVrS5jWwgfWjG0" alt="Can VZ Stock Price Have the Potential to Cross the $50 Mark?"> 
  <figcaption class="wp-element-caption">
    Source: barchart.com 
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 </figure> 
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<p>VZ stock option-chain analysis states that the current implied volatility in the market is 20.86% with an increment of 0.51% in the last trading session. The nearest resistance of $35 has 6,112 open contracts on the PUT side and 19,570 open contracts on the CALL side indicating the dominance of sellers at the current level.&nbsp;&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-vz-stock-price-shows-slow-recovery-which-might-turn-pullback-strong"><strong>VZ Stock Price Shows Slow Recovery Which Might Turn Pullback</strong></h2> 
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 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh6.googleusercontent.com/bwDoddlVxmwAgtREHa9ZsGz_HWczGAx7jrCCLV-qxTCFUNz6E3kPyAwQDjxAXsCl8nSleOzgujJpdO3RewzLoGPC7GADxufMnChy6m63hLF7p3IbPBwu3dn-xgiF0eHdq5sniEWY3opmojsgHnUkE-s" alt="Can VZ Stock Price Have the Potential to Cross the $50 Mark?"> 
  <figcaption class="wp-element-caption">
    Source: Verizon Communications Inc. 1D. NYSE By <a href="https://www.tradingview.com/x/3wB4g70u/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>The <a href="https://www.thecoinrepublic.com/2023/09/07/vz-stock-price-nyse-vz-prediction-will-it-sustain-or-slid/" rel="noopener noreferrer nofollow">VZ stock price</a> currently trades at $33.86 with an intraday loss of 0.53% on Wednesday, September 13th. The long-term trend is bearish as the price trades below the key-moving averages.&nbsp;&nbsp;</p> 
<p>The price follows a bearish flag pattern and has maintained itself in the boundary of the channel. The VZ price prediction suggests that the stock price might show bullishness until it maintains itself in the channel pattern.<br><br>The breakdown of the channel of the bearish flag may witness short-term bearishness on the charts and the price might gain momentum to crash below its previous swing low.<br><br>Moreover, the option chain data shows the bears are still active at the upper levels indicating that the buyers need to struggle to gain full control and surpass the upper levels.</p> 
<h3 class="wp-block-heading" id="strong-emas-show-bearish-trend-prevailed-in-the-stock-price-strong"><strong>EMAs Show Bearish Trend Prevailed in the Stock Price</strong></h3> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh6.googleusercontent.com/tCmHvAT2Rb435tT0wFgazzybr0DCxeL9OliII6ec7AH_A6e_Pmcf89bLVMSRwvtgZXY5zbbF9M9rf3AAons0Gp0iMkQ-JvqkQoEap7bXNBulhI4TaxbttmVvqD9MKMfRDOxcA2ziwh1GQwUi2aub0wE" alt="Can VZ Stock Price Have the Potential to Cross the $50 Mark?"> 
  <figcaption class="wp-element-caption">
    Source: Verizon Communications Inc. 1D. NYSE By <a href="https://www.tradingview.com/x/3wB4g70u/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>The daily VZ stock price chart shows that the price suffered multiple rejections from the key moving averages and declined indicating a bearish trend prevailing. The overall technical opinion rating that includes RSI and MACD signals a 24% “buy” with an average short-term outlook on maintaining the current direction.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p><a href="https://www.thecoinrepublic.com/2023/09/07/vz-stock-price-nyse-vz-prediction-will-it-sustain-or-slid/" rel="noopener noreferrer nofollow">VZ stock</a> price is recovering from a record low of $31.25 in July 2023. The company reported better-than-expected earnings but the price is still in a bearish trend. The price is forming a bearish flag pattern and may break down below the channel. The analysts have a wide range of forecasts for the stock, from $31.74 to $45 in a year. The option chain data shows the bears are still strong at the higher levels.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support levels:</strong> $32.48 and $31.25</li> 
 <li><strong>Resistance levels:</strong> $35.05 and $36.42</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 and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.&nbsp;</p>

Can VZ Stock Price Have the Potential to Cross the $50 Mark?

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Thecoinrepublic.com

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