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Red lines- bullish RSI divergence
Green line- horizontal resistance
blue lines- Fibonacci extension targets
Verizon stock price is trading around $39.20-$39.30. Price made a major low around $34.54 and so far is bouncing higher making higher highs and higher lows as expected. Price is currently below the important horizontal resistance of $39.40-$39.50. A break above this resistance level would be a bullish signal at least for the near term. Our upside target would be at $41.45 first and then at $44.45. Support is critical at $36.60 and as long as this support holds, the bullish scenario remains intact.
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