Visa has had a rough quarter as fundamentals weaken in the increasingly crowded payments space. Now it’s rebounded toward areas where sellers may return.
The first pattern on today’s chart is the declining 50-day simple moving average (SMA). The credit card giant hasn’t quiet reclaimed this line but it’s getting close. It could be potential resistance.
Next is the price zone between roughly $216 and $220, which encompasses several potential levels. For example, the peaks of September, November and December of 2020, and the lows of May and September 2021. One or more of those could offer resistance.
Third, stochastics show an overbought condition following the recent bounce.
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