VZ faces bearish pressure from new Starlink cellular competition; currently showing a pre-market bounce but trending down toward major support below 42.

Verizon is coming in, although getting a little pre-market bounce. But look at this drop on Verizon today. Elon Musk is doing deals that basically are positioning Starlink to launch a cellular phone carrier.

All right. So, in other words, this is massive potential competition with all the Starlink satellites out there that that basically Elon and Starlink and and SpaceX can get into the cellular phone service system.

Um, and again, that's killing Verizon, T-Mobile, and AT&T today are all falling sharply.

really what I'm looking at here folks is the potential below 42 for major support on Verizon. It's at 4350. So, it's still got a ways to go, but if you look at the intraday, it actually was down as low as 4250.

So, it was getting closer. You are getting a technical bounce.

All of these charts are potential trades today. But again, the level on Verizon I'm going to keep a very close eye on uh based on this new potential competition.