Stock of the day: Visa

In today’s analysis, we turn our attention to Visa, which is approaching a potentially critical moment on the chart. The price is nearing a key horizontal resistance zone, marked in green, located just below the $370 level. This area isn’t just a random price ceiling—it’s the top of a “Cup and Handle” pattern, a well-known bullish continuation setup marked here in red.

The formation has matured, with Visa completing the “cup” and recently finishing the “handle,” which formed as a shallow and controlled correction. This setup suggests building bullish pressure and investor optimism as the price continues to coil beneath resistance.

A daily close above the green resistance zone would confirm the breakout and trigger a long-term buy signal. Given Visa’s strong fundamentals and the reliability of this technical pattern, such a move would likely attract strong follow-through buying. Until that breakout occurs, however, caution is warranted, as rejection from this level could prompt short-term consolidation.

Source: https://www.axiory.com/analytics/stock-of-the-day/stock-of-the-day-visa-6