Verizon Update #1

Vz200629As shown on the chart above, VZ appears to be gaining institutional support, as evidenced by the multiple gaps up beginning on January 1.  The stock has made a series of higher highs and higher lows, the definition of an uptrend.  Now we see VZ pausing at its 200-day EMA.  We will see if it’s turned back on this first attempt to break above it.  If VZ does fail, watch for a upside reversal as a possible good entry point.  See my 2006-1-27 posting for more information on Verizon and why it might be worth a look.  Cheers!