Visa's Rollercoaster Ride - Navigating The Highs And Lows From Record Peaks To Sudden Retreats And The Resilient Climb Back Up
Portfolio Pulse from Zaheer Anwari
Visa Inc. (NYSE:V) has experienced a significant breakout from a long consolidation phase between $174 and $252, which lasted from July 2021. The stock found support at the daily 20 SMA around $255 after a minor pullback from $263. Surpassing the previous high of $263 could indicate a new growth phase and a bullish trend continuation. The stock closed at $259.99 on December 19, up by 0.63%.
December 20, 2023 | 5:09 pm
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Visa Inc. has broken out of a consolidation phase, with support at $255 and potential for a bullish trend if it surpasses the $263 level.
The breakout from the consolidation phase and finding support at the daily 20 SMA suggests strong buyer interest. If Visa's stock price surpasses the previous high of $263, it could confirm the bullish trend and attract more investors, potentially driving the price up in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100