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Verizon vs SpaceX: who wins?

BATS:VZ   Verizon Communications Inc.
Telecommunications giant Verizon Communications Inc. and the aerospace Lockheed Martin Corporation have demonstrated the viability of operating a 5G network using drones and satellites. This achievement is significant, holding high potential for project commercialisation, which opens up opportunities to bolster the company's revenue and break the prevailing monopoly held by SpaceX.

So, today, we decided to look at the Verizon Communications Inc (NYSE: VZ) stock chart.

On the D1 timeframe, resistance has formed at 36.37, with support at 33.32. In addition, we can see a "flag" pattern has formed in the same timeframe, which typically indicates the continuation of the upward trend.

On the H1 timeframe, the short-term target may be placed at 37.68. In the medium term, the target may hover around 42.48.

The issuer currently pays 7.2% per annum in dividends, which may interest long-term investors.

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