Stock of the day: Visa

We’re starting this week with an analysis of Visa, which in my opinion, is very close to a major trading signal. However, the direction it will go in is still open to interpretation.

The reason is Visa’s currently inside of a sideways trend, which has lasted for over a year already. From the bottom, the price is supported by an area around 188 USD (yellow) and from the top, we’re restricted by the dynamic red line, which is connecting lower tops since July 2021.

Currently, the price is putting heavy pressure on the resistance, which opens the way to a possible breakout. The price closing a day above the 218 USD would be an amazing buy signal and should definitely end the sideways trend. Due to the rising buying pressure, this scenario seems more probable at the moment.

The alternative is the price breaking the yellow support but, that currently seems less likely to happen.