Verizon Communications $VZ has been in consolidation mode since late 2018 when price retreated sharply from just above $61 to around $53. VZ Daily Chart(click to enlarge)Bullish Signs:- During the consolidation price did not come back down to $63 in May/June and in July/August. This suggests a slight bullish bias.- Based on this bias, I am inclined to think VZ will eventually break above the $61-$61.30 resistance. Resistance, Downside:- However, I think there might be some consolidation and a bearish swing before that, especially if the broader market becomes tentative like it did during the 9/24 session.- If VZ indeed falls, I would monitor the $57 area. I think this area should be support if VZ is to eventually break out.- In fact a hold above $57 keeps VZ above the 200-day SMA. - Another bullish sign would be if the RSI eventually holds above 40 after a period of correction.