Verisign Update
Gary S. Morrow | Apr 27, 2021 03:32PM ET
Shares of VeriSign Inc (NASDAQ:VRSN) are trading at new 2021 highs today. The stock has been on fire since bottoming in mid-March. With today’s gain, VRSN is up 18% since hitting new 10-month lows on March 12.
VRSN is battling very heavy resistance. The $218-$221 area has held the 2019, multi-month 2020 highs as well as the 2021 peak set back on Jan. 4. Once clear of this key zone, the stock could mount quite a run.
VRSN is coming off a very solid earnings report (April 23rd: VeriSign (VRSN) Q1 Earnings Top Estimates, Revenues Rise Y/Y – April 23, 2021 – Zacks.com ).
The 200-day moving average is back in supportive mode. VRSN has not closed out a week above $220.00 since March 10, 2000. The stock printed its all-time high ($248.50) the week before.
Note: We have no position.
You can read Gary S. Morrow's original post here.
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