Annual forecast for Verizon Communications (2021)

PUBLISHED: 15 Mar 2021 @ 09:02 | Comments (0) | More info about Azeez Mustapha

Verizon Communications Inc. stock (NYSE:VZ) is essentially a bear market, and the bearishness may continue for some time, unless the upper Trendline is breached to the upside. The market is currently choppy and rough, and the probability of price going downwards is higher than its probability of going upwards.

The RSI period 14 is slightly below the level 50, and may begin sloping further downwards any moment soon, going into the oversold region below the level 30. The lower Trendline may also be breached to the downside as the market trends further downwards.

The outlook on VZ is bearish for this year and price can eventually reach the demand zones at 50.00, 45.00 and 40.00.

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