Hello everyone, as we all know the market action discounts everything :)
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It looks like Visa Bearish movement has ended when a Breakout of the Descending Channel happened on the 23rd of Sep. after that the stock has started moving sideways with a small edge to the upper direction.
The breakout point has formed what seems to be a solid support level where the market was able to bounce twice from.
The 19th of Oct was a great day for the stock where the market value has jumped from 228.27 to 233.52, a 2,2% increase in 1 day and this bullish push doesn’t seem like it's going to stop yet.
Possible Scenarios for the market :
Scenario 1 :
The market seems to be having a good Bullish momentum at the time this will lead the stock value to push up and hit the resistance level located at 235.14, If the buyers were able to gather more force and breakout that resistance then we will be seeing the price zigzag until it gets to the resistance level located at 247.63.
Scenario 2 :
The Bears might attempt to drive the market back into the descending channel range but they will be met by a big support zone that’s located near the 224.00 range, where a lot of buy power is located, if the Bears were able to drive the price to that level then we will see a big battle where the price will most likely bounce back up and return to Scenario 1 movement.
Technical indicators show :
1) The market is above the 5 10 20 50 100 and 200 MA and EMA (Strong Bullish Sign)
2) The MACD line has crossed the 0 line indicating the market changing from a Bearish state to a Bullish state. With a positive crossover happening between the MACD line and the Signal line
3) The STOCH is in the overbought zone with a positive crossover between the %K and %D
Daily Support & Resistance points :
support Resistance
1) 228.28 1) 232.90
2) 225.90 2) 235.14
3) 223.66 3) 237.51
Weekly Support & Resistance points :
support Resistance
1) 222.71 1) 235.17
2) 214.44 2) 239.36
3) 210.25 3) 247.63
Fundamental point of view :
Large credit card giant Visa is moving into the cryptocurrency space with its own version of credit cards, opening up opportunities for certain large-cap growth ETFs.
With a stake in Visa, ETF investors can play VISA move towards the cryptocurrency space with the Invesco Dynamic Large Cap Growth ETF (PWB).
Indicators point to continued Q4 strength in the domestic air travel recovery, and that's good news for Visa.
The 7-day moving average of U.S. COVID-19 cases, a leading indicator for domestic restrictions and travel, continues to decline since mid-September and Transportation Security Administration screenings as a percentage of 2019 levels improved to 85% from 83% in Evercore's prior Global Air Travel Tracker issue.
This is my personal opinion done with technical analysis of the market price and research online from Fundamental Analysts and News for The Fundamental point of view, not financial advice.
If you have any questions please ask and have a great day !!
Thank you for reading.
_________________________________Make sure to Like and Follow if you like the idea_________________________________
It looks like Visa Bearish movement has ended when a Breakout of the Descending Channel happened on the 23rd of Sep. after that the stock has started moving sideways with a small edge to the upper direction.
The breakout point has formed what seems to be a solid support level where the market was able to bounce twice from.
The 19th of Oct was a great day for the stock where the market value has jumped from 228.27 to 233.52, a 2,2% increase in 1 day and this bullish push doesn’t seem like it's going to stop yet.
Possible Scenarios for the market :
Scenario 1 :
The market seems to be having a good Bullish momentum at the time this will lead the stock value to push up and hit the resistance level located at 235.14, If the buyers were able to gather more force and breakout that resistance then we will be seeing the price zigzag until it gets to the resistance level located at 247.63.
Scenario 2 :
The Bears might attempt to drive the market back into the descending channel range but they will be met by a big support zone that’s located near the 224.00 range, where a lot of buy power is located, if the Bears were able to drive the price to that level then we will see a big battle where the price will most likely bounce back up and return to Scenario 1 movement.
Technical indicators show :
1) The market is above the 5 10 20 50 100 and 200 MA and EMA (Strong Bullish Sign)
2) The MACD line has crossed the 0 line indicating the market changing from a Bearish state to a Bullish state. With a positive crossover happening between the MACD line and the Signal line
3) The STOCH is in the overbought zone with a positive crossover between the %K and %D
Daily Support & Resistance points :
support Resistance
1) 228.28 1) 232.90
2) 225.90 2) 235.14
3) 223.66 3) 237.51
Weekly Support & Resistance points :
support Resistance
1) 222.71 1) 235.17
2) 214.44 2) 239.36
3) 210.25 3) 247.63
Fundamental point of view :
Large credit card giant Visa is moving into the cryptocurrency space with its own version of credit cards, opening up opportunities for certain large-cap growth ETFs.
With a stake in Visa, ETF investors can play VISA move towards the cryptocurrency space with the Invesco Dynamic Large Cap Growth ETF (PWB).
Indicators point to continued Q4 strength in the domestic air travel recovery, and that's good news for Visa.
The 7-day moving average of U.S. COVID-19 cases, a leading indicator for domestic restrictions and travel, continues to decline since mid-September and Transportation Security Administration screenings as a percentage of 2019 levels improved to 85% from 83% in Evercore's prior Global Air Travel Tracker issue.
This is my personal opinion done with technical analysis of the market price and research online from Fundamental Analysts and News for The Fundamental point of view, not financial advice.
If you have any questions please ask and have a great day !!
Thank you for reading.