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Visa Inc., Technical Analysis

1/6/2023 10:15 AM

The corrective trend in the stocks of Visa Inc., the largest American multinational company providing services for conducting payment transactions, continues, and the shares are trading around 211.00.

On the daily chart, the price is holding within the rising global channel with dynamic boundaries 226.00–206.00, trying to reverse at the support line.

On the four-hour chart, a rebound has almost formed: the quotes managed to reach the local resistance level at 214.00, consolidation above, which will open up an opportunity for further growth. However, in the event of a breakdown of the channel's support line at 206.00, the development of downward dynamics is not ruled out.

Technical indicators gave a buy signal: the range of fluctuations of the EMA on the Alligator indicator is directed upwards, and the histogram of the AO oscillator forms rising bars.


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