What Verizon’s Technical Indicators Say about the Stock
Technical indicators are helpful for predicting a stock’s trend direction. Technical indicators hold significant value for investors and traders. The most commonly used technical indicators are moving averages and RSI (relative strength index) scores.
Now let’s evaluate how Verizon’s (VZ) stock has performed lately and compare it with other telecom companies.
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100-day moving averages
On September 26, Verizon was trading 5.3% above its 100-day moving average. In comparison, AT&T (T) was trading around 1.9% above its 100-day moving average while T-Mobile (TMUS) was trading approximately 1.5% below its average. Sprint (S) was trading 1.4% below its 100-day moving average.
Relative strength index
On September 26, Verizon had a 14-day RSI reading of 71. Meanwhile, AT&T, Sprint, and T-Mobile had 14-day RSIs of 69, 46, and 47, respectively.
Generally, a 14-day RSI score higher than 70 suggests an overbought stock whereas a 14-day RSI score under 30 points to an oversold stock.