VERIZON COMMUNICATION (VZ): Reversal Clues

30 Jan 2020

hey traders,

it looks like the breakout above the previous structure high in December was false!

the market was trading about 1 week above 61.0 resistance and then dropped.

Now it looks like the market is forming a classic reversal pattern - head and shoulders pattern.

currently, the price is completing the right shoulder.

I suggest setting the alert below the neckline level.
Being broken it gives us a perfect selling opportunity.

key levels will be 55.55 / 53.0