Verizon Communications Inc.(VZ) is in an downtrend but momentum is showing some life

(31-Mar-2008) (31-Mar-2008) Verizon Communications Inc.(VZ) closed at 35.85, down -0.11 or -0.31 % today. Based on our analysis, Verizon Communications Inc.(VZ) is in an downtrend but momentum is showing some life.

The closing price of Verizon Communications Inc.(VZ) is below its 50 day moving average of 36.93 (Designated by blue line). This indicates that the trend is down. The MACD histogram(Gray bars on the bottom) above the signal line(Dark Red Line) tells us that Verizon Communications Inc.(VZ) is gaining momentum. An downtrend with sustained rising momentum could be early sign of reversal. The MACD histogram crossed above the signal line on 18-Mar-2008, about 9 trading days ago.