Verizon Communications (VZ) stock slipped lower in its latest intraday trading after the key resistance level of $40.90 held firm. The stock remains under the dominance of a short-term corrective bearish trend, with continued negative pressure from trading below the previous 50-day SMA. In addition, a bearish crossover has begun to appear on the relative strength indicators after reaching extremely overbought levels compared to the price movement, further intensifying the negative pressure surrounding the stock.

Therefore, we expect the stock to decline in its upcoming trading sessions as long as the resistance level of $40.90 holds, targeting the key support level of $37.60.

Todays stock forecast: Bearish.