Verizon: ⬇️ Sell

– Verizon falling inside sharp impulse wave 5

– Likely to reach support level 37.60

Verizon continues to fall inside the sharp downward impulse wave 5, which started earlier from the key resistance level 40.65 (former multi-month low from July) intersecting with the 38.2% Fibonacci correction of the downward impulse from the start of October.

The active impulse wave 5 belongs to the sharp downward impulse wave (C) from the end of August.

Verizon can be expected to fall to the next strong long-term support level 37.60 (former multi-month low from January and the target for the completion of the active impulse wave C).