Verizon Wave Analysis – 11 December, 2019

• Verizon approached strong resistance level 61.20
• Likely to fall to 60.53

Verizon is currently trading close to the major, long-term resistance level 61.20 (which has persistently reversed the price from November of 2018, as can be seen on the daily Verizon chart below).

The resistance zone near the resistance level 61.20 is strengthened by the upper daily Bollinger Band.

Given the strongly overbought daily Stochastic – Verizon is expected to fall further toward the next support level 60.5 (former resistance from November).