Stock of the day: Visa

In today’s stock of the day, let’s take a closer look at Visa, which appears to be nearing the end of its bearish correction. This correction has formed a wedge pattern, marked by blue lines on the chart. Additionally, the price recently broke below a long-term uptrend line, indicated by the green color. However, Visa is currently making an attempt to reclaim its position above this uptrend line.

So, how should you approach trading this setup? If the price manages to close above both the green uptrend line and the upper boundary of the wedge (blue line), it would provide a strong signal to go long, with a high probability of a bullish continuation. On the flip side, if the price fails to break above these lines and instead bounces off them, it would suggest a rejection of higher prices, signaling a potential sell opportunity.

Source: https://www.axiory.com/analytics/stock-of-the-day/stock-of-the-day-visa-1