The Dow Jones and S&P 500 American stock indices dropped in Friday trading, while the Nasdaq gained, but showed its biggest weekly decline since the week ended October 30. The Dow Jones was down 1.8% last week. However, the indicators were up last month. The Dow Jones rose 3.2% in February. The unexpected acceleration in the sell-off in U.S. Treasuries on Thursday caused their yields to spike, sending the stock market and especially tech stocks lower.
Our Analysis:
Provided that the index is traded below 13115.00, follow the recommendations below:
Time frame: H4
Recommendation: short position
Entry point: 13000.00
Take Profit 1: 12765.00
Take Profit 2: 12525.00
Alternative scenario:
In case of breakout of the level 13115.00, follow the recommendations below:
While VZ stock has consistently lagged behind the S&P 500, the stock still attracts income-oriented investors. However, if 5G wireless services resume its earnings and revenue growth, VZ stock could have much more appeal.
The problem is that Verizon Communications needs more radio spectrum to ramp up consumer and enterprise 5G wireless services. Verizon's stock has been sidelined lately because of concerns about how much it would spend on a government tender for 5G wireless radio services.
Our Analysis:
While the price is above 54.20, follow the recommendations below:
Time frame: D1
Recommendation: long position
Entry point: 56.50
Take Profit 1: 59.30
Take Profit 2: 60.50
Alternative scenario:
If the level 54.20 is broken-down, follow the recommendations below:
Risk Warning: Forex and CFD trading carry a high degree of risk. As such they may not be suitable for all investors. Investors should ensure they fully understand the risks associated with CFD trading before deciding to trade. Investors may choose to seek independent advice and should not risk more than they are prepared to lose.
