Earnings being declared on 01/05 will determine upside break or further stagnation of the stock. Intrinsically, V unlikely to turn bullish due to global economies reopening slowly but surely. Increased consumer expenditure in Q2 may make V a good purchase now while consolidation is occurring.
No clear underlying support or channel. Two channels for support and one for resistance. V successfully broke out of bearish channel and formed an almost-square stagnation. RSI at peak, should come down to about 159 but may continue to 150.
Boundaries
If 159.17 support is broken price will come down to 150.62 before experiencing another support. If 150.62 support broken price could come down to 134.
If 178.76 resistance broken a new bullish channel will be created with a currently unknown target.
Risk / Reward
If long position, buy at local minima 159 support, gain should be $19.70 (12%) with target price at 178 resistance.
If short position, buy now at 170 assuming price breaks 159 support and progresses to 150 support for $20.70 (14%).
Google increased its forecasts and visa not? I doubt that the Visa forecasts are bad. It's worth remembering that many people have bought a lot of things online for fear of devastation of running out of food and other things.
koenjan
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@AmadoMartinBenitez, I agree! Above I state that I think Visa should be considered a strong long option once the local minima at 159 is reached. While you raise a valid point in sudden consumption, I would raise the point that aggregate propensity to spend has dramatically decrease for the average consumer, particularly those who are currently unemployed. Market contractions will likely occur primarily due to struggling internal consumption, which should impact Visa, Mastercard, and other providers the most.