VZ Fails at Long Support Line with MAC, Now Back Above 50D EMA
At the start of 2014, VZ tested and failed it's support line from August 2011. At this time there was also a conversion of moving averages (MAC). Now VZ is back above it's 50 Day EMA and looks to test its resistance line which formed in May 2013. If it brakes out above that, it should retest it's fib level at $49.11. A break above that level would result in a retest of the former line of support at around $52.