Buy $VZ - NRPicks Ene 24Verizon is now primarily a wireless business (70% of revenue and nearly all operating income). It serves about 89 million postpaid and 4 million prepaid phone customers and connects another 24 million data devices, like tablets, via its nationwide network, making it the largest U.S. wireless carrier.
Verizon has been one of the companies least affected by the pandemic, its largest decline was 20% and it subsequently recovered most of it within a month. The company has a large and well-positioned financial footprint, with high debt but no different from that of its competitors. Likewise, during the year it has generated steady earnings despite having gone through a scenario of instability.
Fundamentals:
- Value
- 4.4% estimated growth in net earnings for the next 3 years.
- ROE 25.7% VS 10.5% industry.
Technicals:
- Price level below SMA 250-200-150
- Williams R% at -18% levels
- RSI (60) Neutral
-2% average upside during the month
A 7% correction was presented from December 4 to January 12, which stopped at $56.80 support. From this point, we expect the stock to show a change in trend due to the fact that the 56.80 level marks a support that has been respected and possibly show a change in trend. Finally, the SMA technical indicator shows a favorable signal for buying.
