[May 21, 2013] Verizon Communications (VZ) Breaks Through Support at $52.43 Tweet May 21, 2013 (SmarTrend(R) News Watch via COMTEX) -- Shares of Verizon Communications (NYSE:VZ) have bearishly opened below the pivot of $52.91 today and have reached the first support level of $52.43. Analysts will be watching for a cross of the next downside pivot targets of $52.11 and $51.31. In the past 52 weeks, shares of Verizon Communications have traded between a low of $40.51 and a high of $54.31 and are now at $52.42, which is 29% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.7%. Verizon Communications has overhead space with shares priced $52.42, or 2.8% below the average consensus analyst price target of $53.90. Verizon Communications shares have support at the 50-day moving average (MA) of $50.85 and additional support at the 200-day MA of $45.91. SmarTrend recommended that subscribers consider buying shares of Verizon Communications on February 1st, 2013 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $44.48. Since that recommendation, shares of Verizon Communications have risen 18.6%. We continue to monitor VZ for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- 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 http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup [ Back To TMCnet.com's Homepage ]