Verizon Could Retrace Half of Its Decline Since January

Verizon Communications Inc. (VZ) is rallying this morning. Prices could close well above the declining 50-day moving average line. It was only a month ago, that VZ shares looked weak and we concluded that, "VZ may not break the May low immediately but it looks like it will do it at some point. It will take a rally to $48 to suggest that the decline has run its course."

With our 20/20 hindsight glasses we can see (chart below) that VZ did break its May lows earlier this month. With prices for VZ trading around $46 before the opening and rising, a fresh look is warranted....284 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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