Trade #12: Long VZ - 29 Aug 2014Long VZ @ 49.53 SL 49.18
Sentiment: Choppy Range turns volatile
Buying the bear trap
Expect to make a higher high or double top
VZ trade ideas
VZ looks ready for another down leg Telecoms caught some weakness after earnings release. $51.50 was important resistance above which buyers failed to hold eventhough company released numbers higher than expectations.
Now, we have tight consolidation near lows with resistance at $49.15. Break below consolidation support $48.50 will trigger Short entry and will open doors to $46 major support.
If market will enter into correction mode (complicated geopolitical situation combined with potential rate hike) that will add arguments to this idea. Risk/Reward 1:4 make this idea attractive with high-winning rate.
VZ Riding SupportVZ has come to trade in a nice little squeeze of a channel here for the past week. This support level also happens to be the .618 of the bigger picture leg. Momentum continues to see higher lows which should lead to this level holding up and a retest to the next resistance level.
Verizon: Potential Bullish Resumption - UpdateBullish breakout above multiple key resistance levels, and that comes in the context of retesting a major long term support level at around 45, check the related link for the overall view.
Near Term target at 51.20 resistance, followed by the latest major swing high at 54.25. A longer term target mentioned in my earlier analysis at 60.00 areas.
Only a break below 45 will threaten for a serious reversal.
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VZ Fails at Long Support Line with MAC, Now Back Above 50D EMAAt the start of 2014, VZ tested and failed it's support line from August 2011. At this time there was also a conversion of moving averages (MAC). Now VZ is back above it's 50 Day EMA and looks to test its resistance line which formed in May 2013. If it brakes out above that, it should retest it's fib level at $49.11. A break above that level would result in a retest of the former line of support at around $52.
My other T twin Look at that basing pattern , i was confused as to VZ behavior vis-a-vis T.. but now the big dog seems to be coming around.. why bet on fancy cos. when you can make 10 % consistently in and out..?
Verizon: Potential Bullish ResumptionShares have been pushing lower within the recent months, however the pullback remains a technical retest to the broken main resistance around 45.50-46.00 areas.
-The latest retest last week was also re-bought, with huge volume levels.
-The price forms another pin bar at the to-year moving average.
The odds in favor of a rebound in Verizon, probably for a long term opportunity, targets start at 54.25-recent swing high.
- A break below 45.00 will probably signal strong downside.
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thefxchannel.com
First Trade of Christmas VZ on a Trend LineThe first in a series of 12 stocks leading up to Christmas. These are pure HPS set ups and I will personally take each set up when and if it triggers. You can follow along on www.daytradingradio.com
TIME TO SHORT VERIZONEMA's are all crossing under the longer term EMA's.
First price target of 48 and second target of 46.
Weekly TL / Fib $STUDYTechnically not really a bullish setup. News trumps technicals tho so who knows?
Verizon Bearish ButterflyVerizon has drawn a bearish harmonic pattern, and now the price got to its PRZ. See the full analysis on www.investazor.com
