Technical Setup: VISA INC-CLASS A SHARES Appears Poised for a Breakout.

Our stock screener has detected a potential breakout setup on VISA INC-CLASS A SHARES (NYSE:V). This breakout pattern is observed when a stock consolidates following a strong upward movement. It's important to note that this pattern is based on technical analysis, and the actual breakout outcome is uncertain. However, it might be worth keeping an eye on NYSE:V.

In-Depth Technical Analysis 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.

Taking everything into account, V scores 10 out of 10 in our technical rating. 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.

• The long and short term trends are both positive. This is looking good!
• When comparing the yearly performance of all stocks, we notice that V is one of the better performing stocks in the market, outperforming 83% of all stocks.
• V is part of the Financial Services industry. There are 99 other stocks in this industry. V outperforms 73% of them.
• V is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
• In the last month V has a been trading in a tight range between 306.64 and 321.62.
• Volume is considerably higher in the last couple of days.

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

Looking at the Setup

In addition to the Technical Rating, ChartMill provides a Setup Rating for each stock. This rating, ranging from 0 to 10, assesses the extent of consolidation in the stock based on multiple short-term technical indicators. Currently, NYSE:V has a 9 as its setup rating:

Besides having an excellent technical rating, V also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 320.66. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 315.72, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

Trading breakout setups.

To potentially initiate a trade, it is common practice to wait for the stock to break out of the consolidation zone. This breakout signifies a potential upward movement, and traders may enter the stock at that point. Conversely, if the stock falls back below the consolidation zone, it may be sold at a loss.

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.

Our Breakout screener lists more breakout setups and is updated daily.

Keep in mind

This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.