$V - Head and shoulder break downIf you follow my charts, previously I noted that Visa would go to $150 and it went until $152. Congrats if you took the profit.
Now Visa just did the head and shoulder break down. The price bounced from 208ish which is around 50% of the breakdown target $192.
The 207 - 208 area is the fib support for both retracement as well as fib extension. It has also acted as previous support area from 12/2020 to 3/2021.
Patterns can reverse from 50% measured target.
Based on all these facts, I believe the bottom has been found.
It's still too early to call. But I have started my reentry.
Target 1 - $135
Target 2 - $150
Risk - fall below $207
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How to read my charts?
- Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have matching color trend lines.
- The yellow horizontal lines shows support and resistance areas.
- Fib lines also shows support and resistance areas.
- The dotted white lines shows price projection for breakout or breakdown target.
Disclaimer: Do your own DD. Not an investment advice.
