Technical Analysis – Visa stock remains bullish ahead of earnings
January 26, 2023 10:25 am
Visa stock is experiencing some gains above 220.00 support level and is moving towards the nine-month high of 226.00 before the earnings release later today. The MACD oscillator is trying to gain momentum above its trigger line in the positive area, while the RSI is flattening near the overbought territory, indicating that the next move may be to the downside rather to the upside.
More gains could lead the stock price towards the immediate nine-month high of 226.00 before moving towards the 235.00 barrier, registered in January 2022, endorsing the medium-term upside structure.
On the other hand, a decline may take the price to the 220.00 barrier before challenging the 20-day simple moving average (SMA) at 216.00 and the 23.6% Fibonacci retracement level of the upward wave from 174.60 to 226.00 at 214.00. Also, a break of the latter level could hit the 50-day SMA at 212.00 and the 38.2% Fibonacci at 206.40. Slightly lower, the flat 200-day SMA at 205.00, which is acting as crucial support, may halt the bearish actions.
Summarizing, the stock has been holding in a bullish tendency since the bounce off the 174.60 barrier. Any declines beneath the 200-day SMA could switch the bias to negative.
Visa stock is experiencing some gains above 220.00 support level and is moving towards the nine-month high of 226.00 before the earnings release later today. The MACD oscillator is trying to gain momentum above its trigger line in the positive area, while the RSI is flattening near the overbought territory, indicating that the next move may be to the downside rather to the upside.
More gains could lead the stock price towards the immediate nine-month high of 226.00 before moving towards the 235.00 barrier, registered in January 2022, endorsing the medium-term upside structure.
On the other hand, a decline may take the price to the 220.00 barrier before challenging the 20-day simple moving average (SMA) at 216.00 and the 23.6% Fibonacci retracement level of the upward wave from 174.60 to 226.00 at 214.00. Also, a break of the latter level could hit the 50-day SMA at 212.00 and the 38.2% Fibonacci at 206.40. Slightly lower, the flat 200-day SMA at 205.00, which is acting as crucial support, may halt the bearish actions.
Summarizing, the stock has been holding in a bullish tendency since the bounce off the 174.60 barrier. Any declines beneath the 200-day SMA could switch the bias to negative.
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