VISA INC.: TECHNICAL ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY STOP |
| Entry Point | 286.50 |
| Take Profit | 298.00 |
| Stop Loss | 284.00 |
| Key Levels | 267.40, 270.00, 280.00, 280.80, 283.00, 286.00, 286.50, 290.00, 298.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 280.80 |
| Take Profit | 267.40 |
| Stop Loss | 285.00 |
| Key Levels | 267.40, 270.00, 280.00, 280.80, 283.00, 286.00, 286.50, 290.00, 298.00 |
Shares of Visa Inc., the largest American multinational company providing payment transaction services, are trading at 283.00.
On the daily chart, the price is moving within the global ascending channel with dynamic boundaries of 286.00–268.00, trying to consolidate above the resistance line.
On the four-hour chart yesterday, the quotes broke through the previous year’s high of 280.00, the last obstacle before reaching the resistance level of 290.00. There are practically no signs of a reversal now but if the asset consolidates below 280.00, a local correction to the support level of 270.00 is expected.
Technical indicators are strengthening the buy signal: the EMA fluctuation range on the Alligator indicator is expanding upward, and the AO histogram is forming upward bars above the transition level.
Trading tips
Long positions may be opened after the price rises and consolidates above 286.50 with the target at 298.00. Stop loss – 284.00. Implementation period: 7 days or more.
Short positions may be opened after the price declines and consolidates below 280.80 with the target at 267.40. Stop loss – 285.00.
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