Buying Opportunities for Verizon
Verizon (VZ) shares have been trading within a narrow range of $41 to $45 over the past three months, showing notable resilience even during the broader 14% market correction in April. This stability highlights the stock's defensive nature and suggests a potential buildup of upside momentum.
Currently, Verizon is consolidating within an emerging upward formation, with firm trend support in the $42–44 range. This support zone has been tested and has held strong, reinforcing its credibility. If the stock manages to break out from this consolidation phase, it could move toward the next resistance zone at $50–52.
From a technical standpoint, accumulating within the $42–44 range appears favourable, supported by the stock's relative strength against broader market volatility. A prudent stop-loss could be placed at $36 to manage downside risk.
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