Correction for Visa. Current price and wave analysis suggest that the stock has completed its 3 red wave upon rejecting the expansion level at 200.0%, a strong 3rd wave indeed. Current price action suggest that Visa is on the 4 th corrective wave and it is forming a strong bullish flag. Target rebound should be near the demand level 1 highlighted in the chart .
V trade ideas
Buy medium term with VisaMy strategy is to combine several techniques at once:
+ Price channel and trend line: help me identify the direction of the price,
+ Supply - demand: help me identify the reversal position,
+ Elliott wave: help me determine the cycle of price,
+ Candlestick pattern and price action: Help me correct the position to the order.
...
V - Buy weekly puts, 1-2 day trade, low riskVisa reports on 1/30 after market close - this is a follow up to my original trade idea (linked chart)
I bought 200 puts, even 202.50 is a good strike.
Risk is low - exits: if 30m candle closes over 204, more conservatively if 30m candle closes over recent high 203.64.
On 30min chart the stochastic make a sharp move down, which usually leads RSI. RSI tested 50 and dipped below again - this bounce is a strong indicator.
Candle patterns are bearish and there is resistance here against cloud.
Above indications support another move down - otherwise RSI will cross back over 50 and trade is closed.
V - open weekly 200 puts - close before 1/30 earningsI bought 1/31 expiry 200 strike puts at $1.65. Reasons for trade:
1) 60min chart - 20sma in downtrend, 10sma below 20, and RSI still under 50.
2) daily chart - stock retesting up against 10sma.
3) 30min chart - RSI needs to stay below 50, and I am looking for %K stochastic to drop below RSI again, as confirmation of my trade.
4) Risk is low - exit on trade over 203.74, recent 60 min high. Risk goes up if stock opens much higher Wed, so keep trade size small.
5) Reward is high - if price hovers in this area IV will raise option value. If stock drops (see chart) option value gains at least 50%.
*** Close this position before earnings on 1/30 (after market close)
Visa Psychological Resistance 200Possible psychological resistance at $200 a share, wouldn't recommend shorting this as this is a very consistent stock, providing steady returns, however it will be interesting to see what occurs once price has broken the $200 milestone. Also sitting at top of regression trend, which may lead to a small pullback
VISA - Making a nice RUN outside of the predicted channel seen hVISA - Making a nice RUN outside of the predicted channel seen here. 12 month price targets for Visa in the last 3 months. The average price target is $212.45 with a high forecast of $239.00 and a low forecast of $194.00. The average price target represents a 9.79% increase from the last price of $193.50. ------------ NOTES: The last 12 months and Visa (V) has risen 39% already.
New highs. Will the run continue?? I think it is possible for sure for eventual growth....as it is only near the lower forecast of $194 minimum levels.... IMO>