money.cnn.com en.wikipedia.org visa is a short candidate. It is making a triangle pattern. If you see the red dotted line and the light green dotted line then this triangle formation may continue till next quarter of 2017 latest. But technical indicators are weak anyway. Charles Scharf need to sell his VISA stock and options as soon as possible to avoid any loss.
We have an interesting signal here, potentially very bullish breakout to come after earnings in V. You can take the long position following my stop loss reccomendation, or simply size it to risk 0.5-1% based on this stop loss distance. Risk would come at $3.01 per share give or take. For more setups like this, message me or Tim West, or visit the Key Hidden Levels...
VISA had a strong run-up during the bull phase of 2009 - 2015. We will see if this is topping out like the general market, or if buyers take it above recent highs. Patience is best, I`ll keep it on my watchlist.
V forms a 5-month rising wedge as shown on the weekly chart while posting new record highs. Further strength would open 72.74 (0.618x 48.80/67.33 from 61.29), near the wedge upper bounds, ahead of 75.07 (0.618x 16.23/58.88 from 48.71). The 66.84 area (near April 6, 2015 weekly range high and rising wedge lower bounds) should support dips. Only a break below the...
Visa has unfolded in a clear impulse wave since its 2009 low and regardless if we stutter higher the next big move of consequence will be on the downside towards 200. I am bearish overall and Visa does not seem to be able to close above the upper trendline bolstering my confidence it is rollling over. How it will reach the previous 4th wave zone ( 230-200 )...