christianmartin4746

V looks prime for calls

Long
NYSE:V   Visa Inc
V just came out of an double top trend and it looks to have a strong reversal

- In the past, V has respected the midline of the pitchfork as a resistance level
+ Fibonacci extension have resistance level at 245.28
+ According to pitchfork that would be around October 8

- V tends to respect the 4.618 fibonacci line
+ It bounced off it perfectly as a support level
+ At that same point V bounced off the 200 EMA - that indicates low risk high reward

- Using a fast moving MACD (5,35,5), the MACD line just crossed the signal line
+ The RSI is bouncing from 31.57 - the last time the RSI was that low was January 27, and afterwards was a pretty strong trend
Comment: If V falls then its support level is

September 9: $228.09
September 10: $227.21