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InvestingScope
Jun 6, 2019 3:47 PM

Visa: A winner amid the May market correction. Long

Visa Inc.NYSE

Description

Visa became today the largest S&P500 company to hit new All Time Highs since the May correction. 1D is on very healthy bullish levels (RSI = 60.091, MACD = 0.770, Highs/Lows = 1.7236) to ensure further uptrend. What is particularly interesting is that the price action since early May is identical to the January - April 2018 candle sequence. Even the RSI pattern has strong similarities. After the 2018 pattern was completed and a new High was made, Visa gained +19% in value. Assuming that the 1D MA50 will support this uptrend, we are expecting a similar rise which puts an early target estimation at 197.00.






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Comments
DACapitalTrading
Great setup following you now! About to post a trade aswell, have a look on my profile and let me know about it buddy :)
DACapitalTrading
Great setup following you now! About to post a trade aswell, have a look on my profile and let me know about it buddy :)
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