VISA MAINS - LONG on the cardsThis is probably one of my much riskier trade propositions. Visa has its earnings report published tomorrow morning. It's very easy to tell that, yes, VISA will report a loss. However, my proposition is that the earnings loss will not be nearly as substantially bad as first expected.
Alongside that, we have a clear divergence off of the trendline, now heading directly for the 200MA. This trade all depends on whether or not it can successfully break the 200MA. That's why it's one of my riskier ones. The volume looks healthy, but not necessarily pertinent enough to constitute the push. Personally, it's certainly viable; especially with the aforementioned earnings report.
The dotted line is a level I can see us hitting after an initial push upwards. It's possible that we never hit that level before a large shove up - it's equally possible that the market will turn against us bullish lot and shove us down.
I'm taking this trade with extreme caution - it's more of a long term hold than a scalp but we shall have to see how it plays out. Onwards!
