Verizon quotes continue to move within the correction and the formation of a bullish "Wolf Wave" model. Moving averages indicate the presence of a short-term bearish trend for VZ. Prices broke through the area between the signal lines down, which indicates pressure from sellers of securities. At the time of publication of the forecast, the value of Verizon shares is 56.48. As part of the forecast, we should expect an attempt to develop a price rise and a test of the resistance level near the area of 57.55. Then, a rebound and a continuation of the fall in the value of securities. The potential target of such a movement is the area below the level of 48.00.
An additional signal in favor of a fall in Verizon quotes will be a test of the resistance line on the relative strength indicator (RSI). The second signal will be a rebound from the resistance area on the price chart, as well as the formation of the ”Wolf Wave”model. The cancellation of the option of falling quotations of the value of Verizon shares will be a strong growth and a breakdown of the level of 60.55. This will indicate a breakdown of the resistance area and the continuation of the rise to the area at the level of 70.00. We should expect an acceleration in the fall of shares with a breakdown of the support area and a close below the level of 54.05, as we can see, this level cannot be broken yet.
Verizon shares forecast for July and August 2021
Thus, the forecast for Verizon shares for July and August 2021 suggests the development of a correction and a test of the resistance area near the level of 57.55. From where we should expect a rebound and an attempt to continue the pair's fall to the area below the level of 48.00. A trend line test on the relative strength indicator will be in favor of the fall of the currency pair. The cancellation of the VZ decline option will be a strong growth and a breakdown of the 60.55 level. This will indicate a breakdown of the resistance and the continuation of the rise in the value to the area above the level of 70.00. As you can see, the technical analysis of Verizon shares indicates the probability of a fall from the current levels as part of the completion of the formation of the ”Wolf Wave” model, but purchases should be considered near the 45.00 area.