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.