Each time price of Verizon attempts to reach the resistance level of 61.10, price of $VZ retraces. This happened twice in the past 8 months, majorly in November and March. When the price of $VZ closed the 2018 trading year, price showed a trace of reversal. The price of $VZ closed at 56.28 on the 31st of December 2018, after a bounce occurred from the support level. As price remains in the cloud of the Ichimoku, a breakout downward from the cloud could lead to a continuous downtrend.
$VZ has already shown an overbought position on the RSI chart. The current support level stands at 53.07. The price of $VZ may fall further after price has already crossed to the lower region of the Bollinger band. Ichimoku already shows a future of a downtrend which might increase in the next few weeks. Price is yet to reach the oversold position on the RSI chart. Since the trendlines have been broken to the downside, price may continue to go downwards to reach 51.08 from its current 56.91.