Black line- support trend line
Green line- horizontal support
Blue lines- Fibonacci extension targets
VZ stock price is trading around $40.36, Since September trend has changed to bullish as price started making higher highs and higher lows. Currently price is trading right above the horizontal support of $39.40. What was once resistance is now support. Price is still respecting the black upward sloping support trend line and as long as this is the case, we will be expecting VZ to hit the next Fibonacci target between $44-$45. Support is at $39-$39.40 and bulls do not want to see price break below this level. That would be a sign of weakness.
