$V seems like it is breaking down, I've marked long levels and potential shorting level/area. I don't think it can go anything below 55.xx, means downside risk is smaller, favouring longs myself.
Historically, when RSI reaches its current mark, this stock drops at least another 1%. On average it is actually 4.34% with the minimum drop of 2.64%.
A conservative play is a drop of 1.70% to fall in line with the bottom of the trend channel. Anticipate a 10-30% minimum profit from a solid PUT.
Since becoming public at the bottom of the financial crisis, VISA had a pretty good run gaining more than 500%. But it looks tired and ready to head south. Under the Elliot Wave Principle one can make a case we are wedging higher in a Diagonal triangle, an overlapping structure that should end with a thrust above the upper trendline with heavy volume. Once it...
V broke down on a wild day, but has made it back to a strong support/resistance. I think with the 100 day moving average acting as support it will bounce around for a couple of days and then break out over $81 and to back to $84
money.cnn.com
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visa is a short candidate. It is making a triangle pattern. If you see the red dotted line and the light green dotted line then this triangle formation may continue till next quarter of 2017 latest. But technical indicators are weak anyway. Charles Scharf need to sell his VISA stock and options as soon as possible to avoid any loss.
We have an interesting signal here, potentially very bullish breakout to come after earnings in V.
You can take the long position following my stop loss reccomendation, or simply size it to risk 0.5-1% based on this stop loss distance. Risk would come at $3.01 per share give or take.
For more setups like this, message me or Tim West, or visit the Key Hidden Levels...
as the previous post mentioned:
if you take the strategy 1, you should be earning now :) Pay attention to the purple line.
if you wanna take the strategy 2, be patient and wait until the price break via the purple line which certain level of volume.
Happy Trading :)
Visa just broke out of a the 81.73 resistance zone and will most likely continue the trend up. It may very will retrace back to its weekly support of 73.25 which is a over a 10% risk so be careful. The short-term support is at 79.48 but you may get stopped out.
There is also a good chance that it never looks back and soars to 90 and beyond. The long-term trend...
Visa just had earnings and is nearing an are of resistance where is has failed a couple time lately. Market at all time high . Wont think of closing out unless V closes above ATH.
