Visa Inc., a payments technology company, operates as a retail
electronic payments network worldwide. The company facilitates commerce
through the transfer of value and information among financial
institutions, merchants, consumers, businesses, and government entities.
It owns and operates VisaNet that is involved in the authorization,
clearing, and settlement of payment transactions; and provision of fraud
protection for account holders and assured payment for merchants. The
company also offers a range of issuer processing services for
participating issuers of Visa debit, prepaid, and ATM payment products.
In addition, it provides electronic payment, risk management, and
payment security solutions to online merchants; digital goods
transactions services in online games, digital media, and social
networks; and mobile financial services for mobile network operators and
financial institutions in developing economies.
Take a look at the 1-year chart of Visa (NYSE: V) below with my added notations:
V has created a couple of important price levels to watch. First off,
the stock has formed a relatively clear resistance at $70 (red), which
would also be a 52-week high breakout if V could manage to move above
it. In addition, the stock is climbing a short term, up-trending support
level (green) over the last 5 months. These two levels combined have V
stuck within a common chart pattern known as an ascending triangle.
Eventually, V will have to break one of those (2) levels.
The Tale of the Tape: V has an up trending support
and a 52-week resistance level to watch. A long trade could be made on a
pullback to the support, or on a break above $70. A break below the up
trending support could be an opportunity to enter a short trade.
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