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Verizon Communications (VZ) Crosses Pivot Point Support at $43.99
[December 17, 2012]

Verizon Communications (VZ) Crosses Pivot Point Support at $43.99

Dec 17, 2012 (SmarTrend(R) News Watch via COMTEX) -- Verizon Communications (NYSE:VZ) has opened bearishly below the pivot of $44.41 today and has reached the first level of support at $43.99. Investors may be interested in a cross of the next downside pivot targets of $43.77 and $43.13.

Over the past year, Verizon Communications has traded in a range of $36.80 to $48.77 and is now at $44.02, 20% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has declined 0.3%.

Potential upside of 6.5% exists for Verizon Communications, based on a current level of $44.02 and analysts' average consensus price target of $46.87. The stock should hit resistance at its 50-day moving average (MA) of $44.20, as well as support at its 200-day MA of $42.67.

SmarTrend is tracking the current trend status for Verizon Communications and will alert subscribers who have VZ in their portfolio or watchlist when shares have changed trend direction.

Write to Chip Brian at --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at:

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