In-Depth Technical Analysis of VISA INC-CLASS A SHARES.

Our stock screener has flagged VISA INC-CLASS A SHARES (NYSE:V) as a potential breakout candidate. This occurs when the stock shows signs of consolidation after a notable upward trend. While we can't predict the actual breakout, it's worth monitoring NYSE:V for potential movement.

Deciphering the Technical Picture of NYSE:V

ChartMill assigns a proprietary Technical Rating to each stock. The score is computed daily by evaluating various technical indicators and properties. The score ranges from 0 to 10.

Overall V gets a technical rating of 10 out of 10. Both in the recent history as in the last year, V has proven to be a steady performer, scoring decent points in every aspect analyzed.

• Both the short term and long term trends are positive. This is a very positive sign.
• When comparing the yearly performance of all stocks, we notice that V is one of the better performing stocks in the market, outperforming 72% of all stocks. On top of that, V also shows a nice and consistent pattern of rising prices.
• A new 52 week high is currently being made by V, which is a very good signal! However, this is in line with the S&P500, which is also trading near new highs.
• In the last month V has a been trading in the 287.19 - 316.37 range, which is quite wide. It is currently trading near the high of this range.
• V is an average performer in the Financial Services industry, it outperforms 65% of 98 stocks in the same industry.

For an up to date full technical analysis you can check the technical report of V

Looking at the Setup

ChartMill takes into account not only the Technical Rating but also assigns a Setup Rating to each stock. This rating, on a scale of 0 to 10, reflects the degree of consolidation observed based on short-term technical indicators. Currently, NYSE:V exhibits a 8 setup rating, indicating its consolidation status in recent days and weeks.

Besides having an excellent technical rating, V also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 314.71. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 314.52, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

How can NYSE:V be traded?

One way to play this would be to wait for the actual breakout to happen and buy when the stock breaks out above the current consolidation zone. A possible place for a stop loss would be below this zone.

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents technical observations generated by automated analysis but does not guarantee any trading outcomes. Always trade responsibly and make independent judgments.

Every day, new breakout setups can be found on ChartMill in our Breakout screener.

Keep in mind

This article should in no way be interpreted as advice. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.