Stock Market Mentor

I can think of 6.8 reasons to like Verizon ($VZ) here – January 2, 2024

Stock Market Mentor
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This is Dan, let’s get right into it. We are seeing that Tech got whacked today. Some of the biotech stuff was working really well. I don’t know what was going on with Moderna ( NASDAQ: MRNA ) but 13.62 percent, the first day of the year, especially after the crappy year they had in 2023 (serves them right), the bulls have to be really happy there.

I care more about Verizon ( NYSE: VZ ) though. The stock went up almost 3.2 percent today, on volume. But you can see this is going to be a short video because I don’t need to say too much about it. We’ve got a bullish cross over here, where the 50-day is now back above the 200-day moving average, and the price is above both of them. It’s worth noting that the 200-day moving average is actually drifting higher, just slightly.

It’s a big deal because going forward you want to see this start to drift higher as Verizon ( NYSE: VZ ) marks out a new uptrend. The thing that I like about this is, that I haven’t looked at AT&T ( NYSE: T ) so let’s go ahead and do that. This is also doing the same thing, between the two of them, I like Verizon ( NYSE: VZ ) more, it went up more today.

But they’re both doing the same thing and I think this is the reason, here Verizon ( NYSE: VZ ) shows a 6.92 percent dividend yield. On MarketSmith it shows 6.8 percent, but what does it matter?

If you look at what the Treasury ( INDEXCBOE: TNX ) is doing now, it’s not even giving you 4 percent. Now, this is totally risk-free, of course. But I don’t know, I would take a little bit of risk for a return of 6.92, not even counting capital gains, on a stock that is turning around. So I like Verizon ( NYSE: VZ ) right here; and I also like AT&T ( NYSE: T ) right here.

In fact, while we’re at it, let’s talk about TMUS ( NASDAQ: TMUS ). Okay, a nice move here, a horrible dividend there. So you’ve got 3 that you can look at here. TMUS ( NASDAQ: TMUS ) is already going. You can see where it got the bullish crossover clear back here, where AT&T ( NYSE: T ) is just getting started. And Verizon ( NYSE: VZ ) got started a couple of weeks ago.

So these are 3 for you, and I would say in order of desirability, for me anyway, I would say Verizon ( NYSE: VZ ), AT&T ( NYSE: T ), and then TMUS ( NASDAQ: TMUS ).