Verizon, Moog Could Move Higher, Bank of America’s Bartels Says
Moog Inc., Polycom Inc. and Verizon Communications Inc. could be poised to move higher, according to Bank of America Corp.’s Mary Ann Bartels, who picked the companies as “three stock ideas for the week.”
Bartels, who ranked second among analysts who study price charts in Institutional Investor’s most recent survey, wrote in a note today that “the overall pattern for Verizon is bullish with upside potential beyond initial resistance near $37 into the $40 to $43 area.” Verizon shares rose 1.1 percent to $36.37 as of 1:05 p.m. in New York.
Moog “has broken out” relative to the Standard & Poor’s 500 Index, “pointing to continued strong performance from the stock” as “consolidations that hold above or near $40 keep the pattern bullish,” Bartels said. The shares fell 0.7 percent to $45.24.
“Based on the recent breakout, Polycom shows upside potential to $55, then back to the 2000 highs in the $66 to $72 range,” the report said. Polycom shares fell 2 percent to $47.25.
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