Verizon Communications Inc. (NYSE:VZ) Assisting Harvey Relief

Verizon Communications Inc. (NYSE:VZ) Assisting Harvey Relief

Verizon Communications Inc. (NYSE:VZ) Assisting Harvey Relief

  • Communications companies continue to up the ante on help for Hurricane Harvey-related areas.
  • Verizon said late Tuesday (Aug. 29) that it was pledging $10 million to fund relief efforts through four non-profit organizations to meet short- and long-term needs.
  • “Relieving postpaid customers of data, talk and text charges and giving prepaid customers an extra 3 GB to be used for data, talk and text from Aug. 26 through September 15.  The September 15 date reflects a one-week extension to what was previously announced.
  • “Deploying mobile equipment including Cells on Wheels (COWs), and Cells on Light Trucks (COLTS) to supplement service in areas of South Texas that need extra network capacity. Verizon has staged additional equipment and is prepared for rapid deployment as needed in hard-hit areas. This initiative is part of a network investment of nearly $1 billion in 2016 in the state of Texas.

Verizon Communications Inc. is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment offers communications products and services, including wireless voice and data services and equipment sales, to consumer, business and government customers across the United States. The Wireline segment offers voice, data and video communications products and services, such as broadband video, data center and cloud services, security and managed network services, and local and long distance voice services. The Company has combined Yahoo! Inc.’s operating assets with its existing AOL Inc. business to create a new subsidiary, Oath Inc., owns a diverse house of more than 50 media and technology brands. The Oath portfolio includes HuffPost, Yahoo Sports, AOL.com, MAKERS, Tumblr, Yahoo Finance and Yahoo Mail.

Overall, the bias in prices is: Upwards.

Short term: Prices are stalling.

Intermediate term: Prices are trending.

Note: this chart shows extraordinary price action to the upside.

The projected upper bound is: 50.41.

The projected lower bound is: 46.68.

The projected closing price is: 48.55.

VERIZON COMMS closed down -0.100 at 48.510. Volume was 60% below average (consolidating) and Bollinger Bands were 68% narrower than normal.

Open          High         Low             Close         Volume
48.360      48.755       48.330      48.510       6,044,054

Technical Outlook
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period         50-period          200-period
Close:                       48.29                46.23                 48.39
Volatility:                11                       26                      21
Volume:                   9,859,408       14,473,646      15,086,358

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

VERIZON COMMS is currently 0.2% above its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. Our volume indicators reflect volume flowing into and out of VZ at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on VZ and have had this outlook for the last 23 periods.

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 65.4021. This is not an overbought or oversold reading. The last signal was a sell 18 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 60.54. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 15 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 71. This is not a topping or bottoming area. The last signal was a sell 1 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 11 period(s) ago.

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John Heffernan

John Heffernan is a Junior Analyst at HEFFX. John is studying Economics and is a contributor on equities at Live Trading News.

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