Shares of Verizon(+2.4%)are heading for their best close of the year today. The stock broke out last week following a very impressive third quarter earnings report. Ahead of the Oct. 23rd. release $VZ held major support near the multi-week September/October lows. After dipping back down to key support late last week, and filling the earnings inspired breakout gap, the stock is back on track. We expect more upside in the weeks ahead.
At time of publication we are long Verizon in most managed accounts.