VZ - Now or never !Welcome back my dear subscribers, today we will take a look at verizon . NYSE:VZ
Since our last entry, verizon corrected nearly -8%, so everything went according to the plan.
Finally, Verizon shows an upward impulse and we must use this opportunity to go long.
Primary scenario:
Verizon has not dropped below the last bottom and has formed a solid impulse.
Thus, we should see price increases in the coming days and weeks. These will take us to prices of atleast $70 in the mid-term.
From there, a small correction (wave 4) should take place and should clear the way to higher prices.
Alternative scenario:
There is a possibility that Verizon could correct even harder and set us back to price levels of $50-$52.
However, this scenario only comes into effect when the crucial mark of 55.94$ and thus our stop loss is broken.
In consideration of the profit opportunities on the upside, this remaining risk can be accepted.
See our last update on verizon, we correctly predicted this small correction.
Current setup:
Entry: 57.91$
Profit target: 70$ and more !
Stop-Loss: 55.94$
