Anticipating Upside In Verizon
by Mike Paulenoff
July 7, 2024 • 2:06 PM EDT
This week's selection for our Top Call -- VZ (Verizon Communications) -- is less a function of its recent success and more a reflection of Mike's technical setup work that projects gains in the days and weeks ahead.
On June 17, one of our MPTrader members (FJB) alerted us to his fundamental work on VZ. After seeing his positive comments, Mike Paulenoff posted the following technical interpretation of the pattern setup:
"... somewhere above 36.00, VZ should reverse into another upleg within its budding bull phase, and coupled with the juicy dividend, FJB is on to something that could be a rewarding name in any portfolio, but especially a portfolio that you want to reinforce with cash-generating companies when the relentless clamor for Info Technology names takes a breather... Last is 39.24... (6/17/24)..."
Then on July 1st, Mike commented:
"This AM, Goldman Sachs initiated VZ coverage with a Buy Rating, and a target price of $50. At the moment, VZ is up 0.8% at 41.60, but the GS research "endorsement" has not powered the name above its dominant down trendline off of the December 2020 high at 61.95 that cuts across the price axis in the vicinity of 42.50 this week. That said, however, the technical setup-- i.e., the positive juxtaposition of the up-sloping 200 Week MA, and the positive upturning Weekly Momentum gauges suggest strongly that as long as 39.00 contains any forthcoming weakness on a closing basis, VZ is a keeper, especially for anyone who feels the need to adopt a more defensive posture during the potential uncertainties likely approaching during the upcoming weeks. Finally, don't forget the VZ dividend pays 6.5%!.. Last is 41.61... "
This past Friday July 5, VZ closed at 41.27, a full 5% above Mike's June 17 post to our members, but if his work proves accurate, there is much more upside ahead, and for this reason VZ is high on our radar screen during Q3, 2024.
Login to join Mike and MPTrader members this week for their ongoing opportunistic fundamental and technical discussions about VZ and many other stocks, macro indices, sector ETFs, commodities, precious metals, and Bitcoin.
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On February 18, 2025, this is what I posted on MPTrader about KWEB (Chinese Internet ETF) that alerted traders to a potentially explosive setup that should keep KWEB on our radar screens going forward :My attached Daily Chart shows that KWEB is attempting to emerge from a huge, three-year rounded base-accumulation setup that projects much higher prices as the price structure climbs the "recovery wall of worry" in the aftermath of the relentless bear phase from the February 2021 ATH at 104.
On July 29, 2025, this is what we discussed about TEVA (Teva Pharma), accompanied by my then-current 4-Hour Chart, just ahead of Earnings:My attached 4-Hour Chart setup argues that TEVA is poised for upside continuation of its April-May advance (12.47 to 18.67) EITHER right from current levels in reaction to a positive Earnings Report tomorrow morning, OR into a BTD bout of weakness into the 14.85-15.55 target support window.
On the morning of August 6th, I posted the chart below after seeing Fundstrat's Tom Lee discuss his CEO position in BMNR (BitMine Immersion Technologies), and the fact that BMNR was accumulating a large cache of Ethereum (ETH) that will serve as an ETH Treasury holding similar to the Bitcoin model used by Microstrategy's Michael Saylor. At the time, BNMR had climbed from 31.85 to 33.70, which piqued my attention technically:"BNMR ... once again is putting upward pressure on the 34.
Nearly two months ago, I posted my technical setup on TMO (Thermo Fisher Scientific, Inc.) to alert MPTrader members to a potentially significant upside reversal pattern. Here is my commentary from June 3, 2025:My attached Big Picture Daily Chart shows the major bear phase from the 9/10/24 ATH at 627.88 to last week's (5/23/25) low at 390.66 (-38%). Most interestingly, all of the price action from the 4/09/25 low at 409.