Resistance

Reversal

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>VZ stock price shot up 9% in a single day after the release of Earnings.</a> </li> 
 <li> <span>2</span> <a>Verizon stock price breakout of the 50-day EMA.</a> </li> 
 <li> <span>3</span> <a>Verizon Communication Inc. beats EPS as well as revenue estimates in Earnings.</a> </li> 
</ul> 
<p>Verizon Communication Inc., VZ stock price shot up approximately 9% in a single day after the release of quarterly earnings. It formed a bullish candle that engulfed the losses of the last six weeks.&nbsp;</p> 
<p>Verizon stock breakout of the downward-sloping 50-day EMA and showed initial signs of a bullish trend reversal. However, the confirmation of the trend reversal will come when buyers are able to break out of the $35.00 hurdle.&nbsp;</p> 
<p>VZ stock price witnessed a massive spike in buying volume and price also surged. It indicates some genuine buyers might have turned bullish and expect the momentum to continue.&nbsp;</p> 
<p>However, if the buyers failed to give the follow-up momentum then it might be an indication of a bullish trap.&nbsp;</p> 
<p>Verizon Communication Inc. released the earnings on October 24, 2023, before the bell. It reported an EPS of 1.22 and revenue of $33.3 Billion. Verizon succeeded in beating the analyst estimates and investors celebrated the earnings.&nbsp;</p> 
<p>The price pattern of the VZ <a href="https://www.thecoinrepublic.com/2023/10/17/vz-stock-price-forecast-can-verizon-communication-stock-recover/" target="_blank" rel="noreferrer noopener">stock price</a> is turning bullish but the confirmation is still awaited. Verizon’s stock price closed the previous session at $34.30 with an intraday rise of 9.27%.</p> 
<h2 class="wp-block-heading" id="strong-will-vz-stock-price-breakout-of-trendline-hurdle-strong"><strong>Will VZ Stock Price Breakout of Trendline Hurdle?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img decoding="async" loading="lazy" width="1600" height="666" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-711.png" alt="VZ Stock Price Surges 9%; Correction Over in Verizon Stock?" class="wp-image-178050" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-711.png 1600w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-711-300x125.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-711-1024x426.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-711-768x320.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-711-1536x639.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-711-750x312.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-711-1140x475.png 1140w" sizes="(max-width: 1600px) 100vw, 1600px">
  <figcaption class="wp-element-caption">
   NYSE: VZ daily chart by <a href="https://www.tradingview.com/x/ZLjQueQi/">Tradingview&nbsp;</a>
  </figcaption>
 </figure>
</div> 
<p>VZ stock price is in a recovery phase and buyers are trying to break out of the downward-sloping trendline. The recent up move looks reliable so the possibility of the trend line breakout remains high.&nbsp;</p> 
<p>Till <a href="https://www.thecoinrepublic.com/2023/10/17/vz-stock-price-forecast-can-verizon-communication-stock-recover/" target="_blank" rel="noreferrer noopener">Verizon stock</a> price sustains above the 50-day EMA, buyers will remain active and try their best to give the follow-up momentum. However, if the price faces rejection from the trendline hurdle then it might retrace to $32.00.&nbsp;</p> 
<p>The analysis suggests that VZ stock price is the initial phase of trend reversal so investors may take minor risks and go for bullish bets.&nbsp;</p> 
<h3 class="wp-block-heading" id="strong-verizon-stock-price-formed-bullish-reversal-pattern-strong"><strong>Verizon Stock Price Formed Bullish Reversal Pattern</strong></h3>  
<div class="tradingview-widget-container"> 
 <div id="tradingview_2026c"></div> 
 <div class="tradingview-widget-copyright">
  <a href="https://www.tradingview.com/" rel="noopener nofollow" target="_blank"><span class="blue-text">Track all markets on TradingView</span></a>
 </div> 
 <script type="text/javascript" src="https://s3.tradingview.com/tv.js"></script> 
 <script type="text/javascript">
  new TradingView.widget(
  {
  "width": 950,
  "height": 500,
  "symbol": "NYSE:VZ",
  "interval": "D",
  "timezone": "Etc/UTC",
  "theme": "light",
  "style": "1",
  "locale": "en",
  "enable_publishing": true,
  "allow_symbol_change": true,
  "studies": [
    "STD;RSI",
    "STD;Supertrend"
  ],
  "container_id": "tradingview_2026c"
}
  );
  </script> 
</div>  
<p>Verizon’s stock price formed a bullish trend reversal pattern on a daily and weekly time frame. The coming few sessions will be interesting and will decide the direction of the next few weeks.&nbsp;</p> 
<p>The MACD curve in VZ stock reverses upward and generates a fresh positive crossover. The histogram bar is green which showcases the strength of the recent up move. The RSI at 65 pointing upward denotes confidence of bulls and more room for upside is open.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>Verizon Communication Inc., VZ stock price reacted positively after the release of the quarterly earnings. It showed signs of bullish trend reversal but the confirmation is awaited.&nbsp;</p> 
<p>The analysis suggests that the recent up move in Verizon stock price looks reliable and more upward momentum is possible.</p> 
<h4 class="wp-block-heading"><strong>Technical levels</strong></h4> 
<ul> 
 <li><strong>Resistance levels:</strong> $35.18 and $37.67</li> 
 <li><strong>Support levels:</strong> $32.00 and $30.17</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>

VZ Stock Price Surges 9%; Correction Over in Verizon Stock?

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