Stock of the day: Visa
25 April 2023
Our today’s hero, Visa, is not here by accident. Today, after the American session, Visa shall publish their earnings report and the expectations are on the 1.99 EPS and 7.8B in revenue. Let’s see how the stock is behaving technically before this important report.
One can say that since October, Visa has been showing excellent behaviour. We are in a proper up-trend and the price is currently trading close to the long-term highs. Actually, those highs serve as a legitimate, long-term resistance labeled on the chart with the blue color. This area has been blocking further gains since August 2021.
Positive results can be the spark and trigger that the buyers are currently waiting for. Visa closing a day above the blue area would be a proper, long-term buy signal. On the other hand, a bounce off this resistance, which would probably happen if the earnings are disappointing, can lead to a mid-term sell signal and an invitation to a correction. Let’s see what the end of the day and the start of tomorrow’s session bring.