Interesting divergence in Visa Visa printing a rising wedge on the monthly chart. Divergence is interesting as the RSI is tracking lower with the stock moving higher.
Interesting and would welcome others thought?
My thought would be that with reopening a break above the wedge would signal a long entry, but the divergence x rising wedge worries me. Is this a sign for the wider market also?
4V trade ideas
VISA. Ascending Triangle on Weekly. 3:1 RRR.NYSE:V is breaking a year long ascending triangle on the weekly time scale. Measuring by the height of the triangle, about $80, from the top of the triangle gives us a target of $296. This is 35% potential profit from the current price of $219.
Taking the recent swing low as a guide, we can set our stop loss at $189.
The triangle is not considered broken upwards until we see next week's candle trading above current week's candle, given that this week's close is above the triangle.
Unfortunately I can't give a time window for this move.
From a fundamental point of view, I suspect that Visa benefits from the Fed's increased interest rates. But I would need more research to understand precisely the magnitude of such effect.
VISA D1The Visa payment system is one of the leaders in the world market. The company's shares almost always have an upward trend. After falling at the beginning of the global pandemic, stocks reached new highs. At the end of January, the shares reached the level of $ 220, after which they went into correction. The global pandemic forced the population of the entire planet to use payment systems more, which led to an active rise in stocks. Today we can see the rapid development of the disease. Which is due to the number of patients in the world. And although vaccination has already begun, you need to understand that this problem will not be solved very quickly. The likelihood of new quarantines and lockdowns is very high. This situation will continue to force violence to shop online. Which will continue to bring stocks to new heights.
$V | Bullish Channel & Bull Flag [Update 1]$V formed a bull flag at structure support. Watch for continuation to the upside within the flag structure.
A breakout of the flag should confirm a larger move to the upside.
Let me know what you think in the comments and leave a like if you agree with my analysis! 👍🏽
VISA - Point of Entry?VISA is another stock that I have been keeping an eye on recently as it shares a similar story tto i Master Card ()
Analyst ratings on the stock remain overwhelmingly positive with a consensus target around $241 despite mediocre earnings results that resulted in some selling pressure and increased volatility lately.
On the technical side the stock seems somewhat undecided however;
Positive Factors
Stock recovered above 200 EMA which reinstated it as support level
Back at the 0.786 Fibonacci levels which for now is a (soft) support
Dynamic resistance level has been broken and indicates more bullishness
Back at the gap base created on November 2020 earnings
RSI bounced off oversold territory back to neutral (50's)
Negative Factors
MACD still indicates bearish sentiment
100 EMA could proof resistance
No confirmed long-term trend. The stock is moving pretty much sideways since mid 2020
Rather large intraday swings, which makes SL setting more difficult
My trade;
I went long in yesterdays trading at $200
Stop Loss outside recent lows around $191 (Oct/Nov gap levels) to account for incr. vol.
Take profit set at $230 although I'd eye the recent $220 highs as a first target
Buy VISA INC. Buy Ticker symbol "V"
VISA INC.
Ideal Entry 204.7 But 206 for entry its fine too
make sure it doesn't break down the potential double top, id break under the neckline of the double top, it could have a 3.3% PB to the trend support area $200.3
1st Target Price 229.72
2nd Taret Price 249.48
Stop Loss @ $198
I have set alert for VISA INC.
-under 206 under 205.1 -alert
V 04-02-2021 LongAsset and Time frame -V,4H
Entry Price -206.35
Exit(Stop Loss) -202.69
Exit(Take Profit) -219.85
Technical Analysis -Price is returning to a confirmed daily ascending channel with a good volume and an engulfing bullish candle, breaking the daily 100MA and the 50MA on the 4H chart
I would like to hear your opinions and what can I do to improve, many thanks