OptionsPlay DailyPlay

The bearish DailyPlay we chose for Thursday October 8th is Verizon Communications Inc (VZ). VZ is part of the Technology Sector (XLK). Over the last month, XLK has experienced a 4.12% move higher and its 1m and 6m trends have turned bullish, however is struggling against its $41.50 resistance level.

Verizon Communications Inc’s 1m and 6m trends have been bearish since August 20th and has recently bounced off it’s $44.50 resistance level with negative momentum. With a technical score of 5 (out of 10), VZ looks positioned to continue this strong bearish trend lower towards $38 support level.

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