Visa is set-up in the apex of a triangle on two time-frames: Short Term and Long Term.
Recently, there is news looking for an Apple partnership which could help move Visa UP if it resolves or DOWN if it doesn't get announced. From the "INTERNAL TREND" indicator that I created at the bottom of this chart, the trend is UP steadily and this would imply that we should be buying every time the oversold reading turns the corner. A small lift from here could cause a decent rally from a short squeeze.
The recent gap down in July on earnings was retested and the selloff from there has also been tested, so Visa is poised to make a move one way or the other from here.
At 216, go with the long and target 219-220 initially.
At 212, go with the short and target 208-204 initially.
Tim
Recently, there is news looking for an Apple partnership which could help move Visa UP if it resolves or DOWN if it doesn't get announced. From the "INTERNAL TREND" indicator that I created at the bottom of this chart, the trend is UP steadily and this would imply that we should be buying every time the oversold reading turns the corner. A small lift from here could cause a decent rally from a short squeeze.
The recent gap down in July on earnings was retested and the selloff from there has also been tested, so Visa is poised to make a move one way or the other from here.
At 216, go with the long and target 219-220 initially.
At 212, go with the short and target 208-204 initially.
Tim
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