VZ - Verizon Offers A Good Risk To Reward Ratio (Technical Analysis)
2024-06-03 12:35:43 ET
Summary
- VZ offers a potential capital gain opportunity with a risk to reward ratio of greater than 1:3.
- Technical analysis tools show that VZ is trading above a rising 30-week EMA and has bullish momentum.
- Volume patterns suggest that smart money has been accumulating shares of VZ, while relative strength is neutral.
Most people know Verizon Communications Inc. ( VZ ) as the wireless service provider that also pays a high yielding dividend of 6.46%. While many people buy VZ for the dividend, I think there is an opportunity for a nice capital gain in VZ. In this article, I will use technical analysis tools such as price action, exponential moving average (EMA), momentum, volume, and relative strength to show why I think VZ offers a risk to reward ratio of greater than 1:3. I will outline a price target and a stop loss in case my analysis is incorrect....
Verizon Offers A Good Risk To Reward Ratio (Technical Analysis)