VCL trade ideas
If it breaks up has room to runBack within bear flag. still cant break out, if does should run some but gap still below
Visa Inc found support at 200-day emaThe stock found support at its 200-day ema, a tad upside may coming next. With MACD currently at the negative territory since March and
oversold RSI, odds would favour that the current move is likely just a rebound.
Past lines helping indicate future price movementsSo there are alot of areas the price can travel through. The thick lines are indicative of past price actions with at least 3 points each. We are also trending in a descending pattern.
But we are now trying to test top of the channel and even the bottom of one of the bullish price lines.
If we can break through both of these we should be able to rally until earnings, if we cant then we might be bouncing for a while until earnings.
V on HODL.So far within the channel, especially with its ER approaching. However, once it loses key support levels, it's a long way down at a value.
Testing bottom of channelV looks poised to be testing this bottom of the long term channel (green lines)
Either we will bounce off and then rally (in which i will be adding to my 150C 12/21
Or we will break through and see a freefall indicative of a market retrace (in which i will pull out my calls and shove these babies into SPXU)
either way im still very bullish on Visa
$V Visa Oversold at Support$V Visa - looking oversold, expecting ~$142.50 support to hold today. Will look for a near term bounce and pre-earnings run-up into late October.
Near term target - $150 by earnings release
Note: Informational analysis, not investment advice.
Visa BuyBought into calls.
We hit bottom of short term channel (purple) and swung under from above that long term channel (green)
RSI overbought
Shorting Visa sharesOn the daily chart of Visa shares (V), there were multiple divergences on the AO indicator, which is a solid indication that a correction will take place. In addition, there was a pin bar at the top of the chart with formed fractal level. Shorting the instrument using level marked on the chart.
V looking to break out further to the upsideVisa shares broke out above January's highs on increasing volumes. This should continue to support higher stock prices in 2018.
