Chance for Verizon reversal

17 October 2022 94
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On Thursday, Verizon shares dipped to new minimums since 2011. However, the general market upswing on the same day helped Verizon to push back from the bottom and to form a bullish engulfing pattern. There were also signals for buying from the RSI and Stochastic indicators.

 

Despite the fact that on Friday the U.S. stock market was pessimistic again, Verizon stocks showed their stability and even finished the day in the plus. It has shown its strength and buyers can go further and direct the quotations to close the gap on October 6-7 at 37.85 level.

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