User Submission

This is not financial advice and should not be treated as such.

VZ - By Desertfalcon


Case For it - -Verizon has bounced off the $54-$55 range 7 out of 8 times in a row the past 3 years (the one time it passed it was the corona dip). It has also hit resistance at about $60 7 out of 8 times in a row as well. - Showing over sold on CCI - It is also trading in a pretty straight channel. - It is likely that it'll bounce back up to 60 judging from history - No bad news I could find - Volume has held pretty even throughout the last 3 years as well. - many short red flags on the 1 month chart in a row - slowly lowering in volume - under 50, 100, 200d MA - lower risk - fairly easy to see if it starts to fall through support, unlike to immediately tank specific to Verizon (unless there was an unforeseen controversy) Case against - not a short term trade. Could make quicker trades with higher yields in the mean time. - may take up to 6-9 months to hit target - low reward - only about 12% gain. - Could be used as defensive play - dump if falls a few bucks below 54