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VISAVISAVISA

VISA

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VISA trade ideas

$V Potential Short Swing Setup Forming I have been watching $V for a while now, along with $MA and some other major credit card companies. In particular, $V is interesting to me because of its clear pattern in volume on the 1M chart: On top of that, it is approaching this bear divergence line on the RSI: While it is not there yet, the weekly is showing some signs on the RSI that a dive lower might be in order: As we cross 20, it is likely we will close in on 0, and that could lead to some serious oversold levels on smaller time frames. One other notable thing is that we are very close to the top of this expanding wedge, and have now seen some sharp selling after the last two thrusts on the weekly: The 1D shows that we are right on the trend line, and if we fall, it will likely be sharp. RSI is also still a bit bearish here, having just crossed below 20 on the close today: The 4H is just as bearish, with this dead cat bounce leaving us at a close on the trendline: Basically, if this rallies off this trend line but fails to make a higher high before exhausting on the 1D RSI, or it plunges below, I think you are safe to open a short position. With confirmation, I think you are safe to target the $166 and $156 price levels from here on the daily:
NYSE:VShort
by UnknownUnicorn3126937
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