V - What's going to happen?Hello and good morning dear Visa Investors! NYSE:V
For the first time i will publish a detailed analysis on one of the biggest Dow30 Companies... Visa!
Visa saw very strong growth since the market crash in march, along with all other tech companies it easily surpassed its previous ATH.
I could successfully identify the past price movements and elliot wave structures.
Right now i am looking for a solid 1-2 structure and the start of Wave3 !
I will announce an entry if both confirmations are given!
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If you have questions related to a specific stock or the Elliot Wave theory, feel free to contact me.
V trade ideas
$V Visa Joins the Fintech Rally
VISA has reclaimed the 50ma as support after a sharp decline with the market in September.
As earnings approach we expect a run up into the event as VISA continues to benefit from the
surge in ecommerce due to Covid.
MACD has just completed a bullish crossover
Histogram is positive
RSI rising and room to run higher.
Old channel may act as resistance to any rally as will the previous high.
Price target $215
Cup and HandleNo rising wedges noted,. Monthly candle shows this may pull back a bit more.
The handle was inside a rectangle and I hope it is not going back in to the rectangle
Was in a channel up as well. A channel up can also become bearish at the top and a channel down can become bullish when it finally reaches the bottom and breaks up and out of that channel down.
Strong S at 185.85ish
V has broken out but did not hold on to it
Maybe 2nd time around it will
V also has a busted ascending triangle in the chart (when an ascending triangle breaks to the down side it is called a busted A triangle)
Struggling at the top but I do not think Visa as a company and payment source is going anywhere
Chart is very bullish and if it breaks the recent high and holds on, it will be above the A triangle again and the trendline of that triangle will provide S which is at 200ish. The handle Low (HL) and the Mid Cup (MC) also provide support
Probably just a matter on time
NV is very high. Earnings 10-24 estimated
Not a recommendation
visa is a trust worthy investmentvisa is definitely something you would want to add to your portfolio if you aim to invest in the years to come, great return with a strong bullish trend since 2017.
as of now for quick profit seekers or intra-traders, we would not recomend taking any entry on this stock.
with the fear of a second wave that is closer to get confirm any day, you might want to invest into paypal more that you would on visa.
best regards, David Senior trader at Richmonstocks Paris france.
Short on open: 200.45
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RectangleSorry...199 is not a target but more of a spot to watch for B/O (o: Visa has fallen from several rising wedges and appears to be living in a Rectangle. If she breaks up my stop would be be mid rectangle
I do not go short, but my stop would be the same
One mistake traders can make is making a pattern fit when there is not one..so always double check