Verizon Communications (VZ) stock declined in its latest intraday trading, under continued negative pressure from trading below the 50-day SMA and within the context of a short-term descending correction trend. The stock is moving along a downward slope and is now preparing to break the key support level of $40.90, especially with ongoing negative signals from the Stochastic, despite it reaching deeply oversold territory.

Therefore we expect the stock to decline in upcoming trading, particularly if it breaks below the $40.90 support level, targeting the next support at $39.65.

Todays price forecast: Bearish