VZ trade ideas
How To Utilize Difference In Price Indicator The difference in price indicator helps show volatility. In this case I am going long on Verizon but am unsure of how much to expect the price to move each day. When I add the Difference In Price indicator to my chart, I can scroll my cross hairs over and see that it changes in price about $1 a day. So for tomorrow I can expect it to go up or down $1 based on what has historically happened.
The Difference In Price Indicator can be used on any candle segment, but my favorite is the day because I like knowing how much to expect a stock to change in price on a daily basis.
To add the Difference In Price Indicator to your chart, you can click on the F(x) button and then click on public library. Type in Difference In Price. Add the one created by Myantman101 ( free )
Test it out on different segments and see for yourself how it can help determine what type of price change to expect when shorting or going long.
Comment any questions below
Breaking Resistance On The 1 HRVerizon is about to break through resistance on the 1 hour chart and has potential to reach an all time high. I will be following this stock closely as I have 50 calls for it to be worth $61 a share by 12/11. I need it to hit $62 a share this week to 5x my money. Looking to make big profit but as soon as I see a reason to drop out I will. Stay tuned for more!
VZ - Elliottwave analysis - Sell on bounceVZ - It is in WXY double zigzag correction and underperforming the SPX. The drop was completed A of Y wave and correcting up in B wave, which would expected to finish near 57.50 level. Sell for C wave down as the final cycle of Y wave in that zone.
Give thumbs up if you really like the trade idea.
Verizon - 5G
NOTES
Verizon has surprisingly tanked after the new 5G announcement that came-out, overall, it wasn't too surprising. We're without a doubt in short term bearish sentiment for the stock. However this sentiment appears to be coming after a very decent impulse wave rally (not the traditional pattern, appears to be a Moving Ending Diagonal Impulse with converging lines) Short term, we may see a rally around 1.5% strong from Friday's close of 58.05. This is likely to be sold off down to the 0.312 fib retrace of the longer-term impulse wave we're tracking. After this, it's a whole new set of impulse waves on VZ
Likely Scenario: Timeline 3-4 Weeks
1 - VZ rises from 58.05 to the upper $58-$59 range and is rejected.
2 - VZ continues this rejection from that upper range down to the upper to mid $56 range
3 - VZ breaks out of the short term bearish descending channel we see now and begins to hit new ATH's.
Alternate Scenario: Timeline 1-2 Weeks
1 - VZ rises from 58.05 to the upper $58-$59 range and breaks through.
2 - VZ continues this breakthrough through the short term downward bearish channel we see now, and starts it's new impulse wave to new ATH's earlier then expected.
Key Takeaways
Both scenarios end in bullish long-term action estimated timeline for the breakout is within the next month overall. Currently eyeing 6 month long $60 call contracts, not that expensive.
VZ long, at Support Long term Uptrend,
Reversal candle at support
Entry 58.5
Stop 57.4
Target 61.5; reward:risk=3:1
Earning 10/21/2020,
I am not a PRO trader. I need few months to practice trading strategies.
If you like this idea, please use SIM/Demo account to try it, until my trading plans get high winning rate.