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Visa Daily Technical Analysis | 2 October 2017

2017-10-02 09:31 am | Resource: Technical Analysis Section | No Views : 320

Visa shares are trading in a bullish direction on the hourly frame as the American stock broke through the bearish trend line and breached the 105 level to confirm the upside move. The SMA is positively intersecting with the slow average but without confirmation so far and the stock needs to break through the $ 105.42 area to take advantage of the cross Moving average.

Visa Daily Technical Analysis | 2 October 2017

Despite the positive cross, the index is converging and the histogram is down to show weakness of buyers' sentiment.
It is expected that if Visa shares break 105.42 areas, it targets $ 106.90, but if it breaks the 104.89 level it might target the 101.59 level.
Support: 104.89- 102.94 - 101.59
Resistance: 106.90 - 108.03 - 109.37
Trend: Up


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