- Verizon stock price has been below the 20, 50, and 200- days Exponential Moving Average.
- Verizon’s stock price is currently trading at $37.19.
- Verizon (NYSE: VZ)’s live market cap is $142.8 Billion.
By analyzing the chart, Verizon (NYSE: VZ) stock price is currently in a sustained declining momentum that started in November 2020.
Over the course of a year, a significant 50% fall in price has been caused by this steady decline. This sequence of lower lows highlights that the stock is underperforming and there are chances that the price may fall in the future.
The Verizon stock has recently hit the all-time low of $31 and now it is near the resistance. If the stock doesn’t break the level and price sustain above the resistance level, it can be possible to see a further decline in price.
This is an important level as if the price fails to maintain at this level, it could potentially lead to a sudden and dramatic downward movement.
The one-year growth of Verizon stock is -32.8% and also the revenue is down for the last 2 quarters, from $35.2 Billion to $32 Billion with an average decrease of 6.6%.
Verizon (VZ) Stock Price Analysis
The share price of Verizon is currently below the 20, 50, and 200-day EMA levels, indicating a bearish outlook and suggesting that the price will likely decline.
The MACD indicator also contributes to this negative picture because a red histogram is forming and the MACD line is still below the signal line. This price fluctuation pattern suggests a declining trend and possible pressure.
Additionally, the RSI indicator supports the notion of negative momentum because it is still above the SMA line and has not yet reached the oversold area. This raises the possibility of further price decreases, supporting the negative view.
As per the charts, the volume of VZ stock is declining, an absence of buyer interest in the current market may be indicated by a diminishing volume of trade in Verizon’s stock.
When the volume drops, it may indicate that fewer investors are actively purchasing in the stock which could result in a lack of demand and a consequent decline in the stock price.
Conclusion
It can be concluded from the analysis that Verizon’s stock is now undervalued and trending downhill. There is a high probability that the stock price of Verizon might continue to fall. Also, the overall structure is weak and the revenue of the company is declining.
Technical Levels
- Support Level – $3.
- Resistance Level – $34.
Disclaimer
The views and opinions of the author, or anyone named in this article, are for informational purposes only. They do not offer financial, investment, or other advice. Investing or trading crypto assets involves the risk of financial loss.