Near its 50 day and 200 day, Verizon Communications closed the trading session at $29.13, moving averages presently set at $30.58 and $30.45. This means the Big Red’s action is below these levels and thus makes sock difficult to purchase reports tradershuddle.

The latest price action range which is defined by a peaks and troughs algorithm calculated support at $28.31 and resistance at $34.13, therefore these levels should be watched by traders due to the figures delivering an insight into the latest in dynamics in Verizon shares.

If traders wish to establish a position on Verizon they should evaluate their options, given the heavy resistance that is expected in near the 50 and 200 day averages. Other levels traders should evaluate is the ones defines by the same peak and trough algorithm but which delivers great price level reference.

Verizon owns the largest wireless network in the United States and has the most subscribers, was founded in 1983 and is based in New York.