Don't Ignore This Chart!

Verizon (VZ) Answers The Call

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Quite a few of the telco's have surged in recent weeks.


While the stocks have been accelerating, Verizon has been a standout. But it is not just the US Telco's that are ripping higher.  The breadth across the industry makes the recent move important.

For Verizon, the break above the 40 WMA and the SCTR rallying above 50 are both points to take notice of. While the chart is still sporting lower lows and lower highs, the change in momentum looks to be important here. There is a nice signal on the MACD as well. 

There appears to be some appetitie for upside in VZ with a 4.7 % yield as well.  With that, it might be time to take a look at VZ now too. A little pullback might make the entry easier, but there is a swelling trend towards the industry it seems.

I'll be posting Martin Pring's Market Roundup Live for members later today.

Good trading,
Greg Schnell, CMT, MFTA.

 

Announcement from the Author

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Greg Schnell
About the author: , CMT, is a Senior Technical Analyst at StockCharts.com specializing in intermarket and commodities analysis. Based in Calgary, he is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is an active member of both the Market Technicians Association (MTA) and the International Federation of Technical Analysts (IFTA).

Greg is also the co-author of Stock Charts for Dummies (Wiley, 2018). Greg joined StockCharts.com in 2012 and has be instrumental in helping launch a variety of new blogs and other commentary platforms. Presently, Greg contributes market analysis commentary to The Canadian Technician, Commodities Countdown and Don't Ignore This Chart blogs. Learn More
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