Chart of the Day: VZ


Though I am leaning pretty short on the overall market, any time you have a large one-sided bet on the market, it’s always good to have a “go to” list for if those setups fail. VZ is interesting to the long side:

  • Market leader on our relative strength scans.
  • Has held up well on the market decline and continues to consolidate near the upper channel.
  • Volatility contraction often sets up a good directional move.

There are two broad ways I’d be interested in entering this stock: either on a breakout above roughly 44.00 or on a spring on a failure test below 43.00.

Might be a good idea to keep this one on the radar.




Adam Grimes has over two decades of experience in the industry as a trader, analyst and system developer. The author of a best-selling trading book, he has traded for his own account, for a top prop firm, and spent several years at the New York Mercantile Exchange. He focuses on the intersection of quantitative analysis and discretionary trading, and has a talent for teaching and helping traders find their own way in the market.