Moody's upgrade of Visa to AAA3 status places it in a very exclusive club of only a handful of companies (including Microsoft). With financials like Visa has, it is difficult to see anything getting in its way short of a recession.
The technicals are extremely strong. We are in a textbook uptrend with higher highs and higher lows. The only drawback is that we appear to be overbought. But with a rating like this it is difficult to imagine even the slightest retracement in the near future.
The Kovach Momentum Indicators suggest extremely bullish long term momentum but short term momentum has dropped off slightly indicating that today might have been the only chance we had to get long. The Kovach Reversals Indicator confirms this in that the low of the day bounced off support on the lower bound of the KRI.
The technicals are extremely strong. We are in a textbook uptrend with higher highs and higher lows. The only drawback is that we appear to be overbought. But with a rating like this it is difficult to imagine even the slightest retracement in the near future.
The Kovach Momentum Indicators suggest extremely bullish long term momentum but short term momentum has dropped off slightly indicating that today might have been the only chance we had to get long. The Kovach Reversals Indicator confirms this in that the low of the day bounced off support on the lower bound of the KRI.
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