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Visa Inc., Technical Analysis

3/8/2023 10:11 AM

The shares of Visa Inc., the largest American multinational company providing services for conducting payment transactions, are moving within a corrective trend at 223.00.

On the daily chart, the price is holding within the channel with dynamic boundaries 248.00–220.00 and tries to grow toward the resistance line.

On a four-hour chart, it is clear that the current trend has high prospects for continuation, as the quotes are above the local high of the previous wave at 220.00 and close to the current high of the year at 230.00, consolidation above which will be a key marker of further growth.

Technical indicators almost gave a signal to buy: the range of fluctuations of the EMA on the Alligator indicator is directed upwards, and the AO histogram is approaching the transition level, forming rising bars.

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