| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY STOP |
| Entry Point | 280.05 |
| Take Profit | 291.00 |
| Stop Loss | 275.00 |
| Key Levels | 261.00, 273.00, 280.00, 291.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 272.95 |
| Take Profit | 261.00 |
| Stop Loss | 278.00 |
| Key Levels | 261.00, 273.00, 280.00, 291.00 |
Current trend
The corrective trend in the shares of Visa Inc., a company providing payment transaction services, continues at 277.00.
In the middle of last month, there were reports of an intention to acquire the British company Featurespace for 730.0 million pounds, which is developing an architecture for transaction tracking using artificial intelligence (AI). In addition, the management announced the financing of its escrow account in the amount of 1.5 billion dollars, which was created as part of the strategy and serves to settle possible litigation and other proceedings, and the transfer of such a significant amount to it indicates the intention of Visa Inc. to demonstrate financial stability. The essence of this account is that funds in favor of the victim are transferred immediately after the court decision is rendered.
Visa Inc. will publish its financial results on October 22: according to forecasts, expected revenue will be 9.48 billion dollars, exceeding the previous figure of 8.90 billion dollars, and earnings per share (EPS) will increase to 2.58 dollars from 2.42 dollars.
Support and resistance
On the D1 chart, the company's stock quotes are held well above the correction channel with the boundaries of 269.00–248.00, preparing for continued growth.
The global sell signal from technical indicators is actively weakening: fast EMAs are approaching the signal line, and their range of fluctuations on the Alligator indicator is narrowing rapidly, while the AO histogram is trading in the negative zone, forming new ascending bars.
Support levels: 273.00, 261.00.
Resistance levels: 280.00, 291.00.
Trading tips
In case of continued growth, as well as price consolidation above the resistance level of 280.00, buy positions with a target of 291.00 will be relevant. Stop-loss – 275.00. Implementation period: 7 days and more.
In the event of a reversal and continued decline, as well as price consolidation below the support level of 273.00, sell positions with a target of 261.00 and a stop-loss of 278.00 may be opened.
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