VZ (Verizon Communications) offers an objective short entry here on the rally into the downtrend line off the highs with the recently broken uptrend line off the key 2017 low as additional resistance just above. As such, VZ will be added as an Active Short Trade with an optimal entry anywhere from current levels (57.94) up to but not above 58.85 and down to but not below 54 (other than strategically shorting on rallies back into resistance following any reversals off the initial price targets). Weekly chart below.
VZ weekly April 9th
Zooming down to the daily chart below, VZ has rallied into a confluence of resistance level: The downtrend line off the Dec 20, 2019 all-time high + both the 200-day EMA & SMA with the 58.78 price resistance only about 1% above.
VZ daily April 9th
The price targets for this trade are T1 at 50.15, T2 at 45.54, and T3 at 43.10. The suggested beta-adjusted position size is 1.0. As this is intended as a longer-term (multi-month) swing trade based off the weekly charts, the suggested stop is a weekly (end of day Friday) close above 61.73 although all trade parameters (targets, stops, position size adjustments, etc.) are just suggestion. Each trader or investor should use stops & targets inline with their own unique risk-tolerance, loss allowance, & outlook for a particular security while passing on trades that do not mesh with their own analysis or outlook for that stock. Assuming this trade would be stopped out at or near the 61.73 level, that stop (about a 6.5% loss, if hit) relative to the final price target of 43.10 (a nearly 26% gain if hit) provides an attractive R/R of about 4:1 and a still favorable R/R of 3.3:1 if only targeting T2.