Verizon Communications Inc. (NYSE: VZ) shares fell on Friday January 13 on lower trade volume than normal after a number of analysts weighed in on the investing value of the stock and reiterated thier respective ratings.
Meanwhile, The Dow Jones Industrial Average DJIA, -0.03% slipped 5.27 points to close 19,885.73, moving in a roughly 100-point range all session. For the week, the blue-chip index is off 0.4%.
U.S. financial markets will be closed Monday for Martin Luther King Jr. Day.
The S&P 500 index SPX, +0.18% added 4.20 points, or 0.2%, to end at 2,274.64 for a weekly loss of 0.1%, and the Nasdaq Composite Index COMP, +0.48% climbed 26.63 points, or 0.5%, to finish at 5,574.12, its sixth all-time closing high in seven trading sessions.
Verizon Communications Inc. (NYSE: VZ) had its Buy rating reiterated by equities researchers at Drexel Hamilton in a research note to investors. With a rating of Buy on the stock, Verizon Communications Inc. has a 52-week high of $56.95. As a means of comparison, a number of other analysts have issued reports on the company in recent days, and the company has secured a consensus one-year price target of $52.82, above the opening price of $52.72, a difference of 10.05 percent. Share prices sometimes get a boost to the upside when analysts reiterate coverage.
Shares of Verizon Communications Inc. (NYSE: VZ) opened at $52.72 yesterday trading between $52.41 and $52.90, and last traded at $52.55, which is a dip of $0.13 compared to the previous closing price.
Verizon Communications Inc. (NYSE: VZ) now has a market cap of 214.23B.
Verizon Communications Inc. (NYSE: VZ) Average Daily Trading Volume
The stock’s average daily volume is 14,514,300 shares out of a total float 4,060,368,000 and some 9,458,660 shares crossed the trading desk yesterday, 83 percent lower than the average. lower than normal. Look for trading volume to pick up in the coming days as swing traders often use increases in trading volume to identify heavy volume accumulation or distribution by institutional investors.
However, a single day of heavy buy side trading is not enough to assert a trend. As such, market traders will continue to watch for institutional sponsorship as a signal that financial institutions are moving forward.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors retain teams of analysts that research thousands of stocks. Thus, watching their interests is a good way to make sure you are buying the right stocks.
Verizon Communications Inc. (NYSE: VZ) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By identifying trends, moving averages allow investors to make those trends work in their favor and increase the number of winning trades.
Trades for Verizon Communications Inc. (NYSE: VZ) have ranged from $43.79 – 56.95, and the stock now has a 50-day MA of $52.26 and 200-day MA of $52.01. Today’s last price is 7.73%% below the 52 week high of $56.95.
Earnings growth is a critical factor to research when investing in stocks and investors identify companies that have grown their earnings by at least 25% over the past 3 years.
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