Verizon Communications Inc VZ is reporting second-quarter earnings on Monday. Wall Street expects $1.15 in EPS and $33 billion in revenues as the company reports before market hours.

The stock is up 30.37% over the past year, 11.59%% YTD.

Let’s look at what the charts indicate for Verizon stock and how the stock currently maps against Wall Street estimates.

Verizon Stock Strongly Bullish Ahead Of Q2 Earnings 

Verizon is currently exhibiting a strongly bullish trend, with the share price at $42.07, above its 5-, 20-, and 50-day exponential moving averages (EMAs).

Chart created using Benzinga Pro

This upward momentum is reinforced by the stock trading above key simple moving averages (SMAs). Specifically, VZ’s share price surpasses its 8-day SMA of $41.35, 20-day SMA of $41.17, 50-day SMA of $40.57 and 200-day SMA of $38.82, all of which signal bullish momentum.

Chart created using Benzinga Pro

The Moving Average Convergence Divergence (MACD) indicator stands at 0.33, further supporting a bullish outlook. Additionally, the Relative Strength Index (RSI) is at 60.88, suggesting that while VZ is approaching overbought territory, it currently remains bullish.

Bollinger Bands analysis indicates a bullish signal as well, with the 25-day bands set at $39.46 to $42.31, and the stock trading in the upper band.

These indicators collectively suggest that Verizon Communications is poised for continued upward movement, despite slight selling pressure.

Read Also: How To Earn $500 A Month From Verizon Stock Ahead Of Q2 Earnings Report

Verizon Analysts See Upside From Current Levels

Ratings & Consensus Estimates: The consensus analyst rating on Verizon stock stands at an Outperform currently with a price target of $45.21. However, the latest analyst ratings for Verizon from Scotiabank, Tigress Financial and Wells Fargo imply a 9.76% upside, with an average price target of $46.17.

VZ Price Action: Verizon stock closed the trading day Thursday at $42.07, up 0.10%. It is down 0.095% to $42.03 in pre-market trading.

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