TopOptionAlert
Oct 22, 7:33 PM
$VZ NOV20 47C · still actionable
Zone:
$44.84 to
$45.48
Invalidation: close under
$43.78
Objectives:
$47.71, then
$50
The math: up 5.6% to the first objective and 10.7% to the second, against 3.1% risk on the invalidation, better than 3 to 1 to the second
Dear friend, this is a swing into earnings on Monday October 26, and today told a simple story. Verizon closed yesterday at
$43.56 and pushed to
$45.16 today, which means buyers were willing to pay up before that report instead of waiting on the sidelines. Think of it like a quiet stock suddenly getting a line at the door, not proof of what earnings will say, but a clear sign of where interest is leaning right now. The first objective is the 50 day average near
$47.71, a level the stock has lived under while it based, so getting there would say this move has real follow through.
P.S. Watch the
$43.78 low from today. A close back under it says the earnings run lost its footing.
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