Stock of the Day: Visa

Stock of the Day: Visa
In today’s stock of the day, let’s focus on Visa, which has been trading inside a broad sideways trend since the middle of June. The structure can be interpreted as either a rectangle pattern or a descending triangle, depending on how the upper boundary is drawn. Regardless of interpretation, the key technical element here is the green horizontal support, which the price is currently testing.

So far, buyers are defending this support zone, keeping Visa above the critical level. However, this phase looks like a decisive technical crossroads — where the market will soon have to choose direction. If the price closes a day below the green horizontal support, that would confirm a breakout to the downside, triggering a proper long-term sell signal and inviting traders to go short.

On the other hand, if the price bounces sharply from the green support and then breaks above the blue resistance, that would indicate a bullish reversal and deliver a clear buy signal. Such a move would suggest renewed strength from buyers and a potential resumption of the broader uptrend that dominated Visa’s price earlier this year.


 
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