Wednesday
Mar302011
Verizon (VZ) Breaks Out
Wednesday, March 30, 2011 at 09:09AM Verizon (VZ), which has traded in a range between $25 and $40 for the past decade, has been on fire lately. Yesterday the stock closed higher for the ninth consecutive trading day, and it broke significantly above its prior bull market high reached in early January.
A long time has passed since Verizon last experienced a 9-day winning streak -- 25 years and 268 days to be exact. On July 10th, 1985, Verizon completed its last 9-day winning streak. That streak ended at 10 days on 7/11/85, and it's the longest winning streak in the stock's history. An up day today and tomorrow will establish a new record for Verizon.
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Reader Comments (1)
Makes sense shareholders like it; the cellular industry is going to turn from one with constant pricing pressure into one with pricing power. What's not to like...