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Verizon Communications: 52-Week High Recently Eclipsed (VZ)

Published on Wed, 03/20/2013 - 14:27
By Adrienne Chilton

Verizon Communications (NYSE:VZ) traded today at a new 52-week high of $49.17. Approximately 10.9 million shares have changed hands today, as compared to an average 30-day volume of 12.9 million shares.

In the past 52 weeks, shares of Verizon Communications have traded between a low of $36.80 and a high of $49.17 and are now at $48.84, which is 33% above that low price. The 200-day and 50-day moving averages have moved 0.24% higher and 0.59% higher over the past week, respectively.

Verizon Communications Inc. is an integrated telecommunications company that provides wire line voice and data services, wireless services, Internet services, and published directory information. The Company also provides network services for the federal government including business phone lines, data services, telecommunications equipment and payphones.

Based on a current price of $48.84, Verizon Communications is currently 2.0% above its average consensus analyst price target of $47.85. The stock should find initial support at its 50-day moving average (MA) of $44.99 and further support at its 200-day MA of $44.32.

By Adrienne Chilton
achilton@fnno.com