Big movement expected on Verizon Communications Inc. after a breach of the resistance

Verizon Communications Inc. has broken through a resistance line of a Channel Down and suggests a possible movement to 61.14 within the next 3 days. It has tested this line in the past, so one should probably wait for a confirmation of this breakout before placing a trade. If the breakout doesn’t confirm, we could see a retracement back to lines seen in the last 31 days.