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Visa Daily Technical Analysis | 26 October 2017

2017-10-26 09:41 am | Resource: Technical Analysis Section | No Views : 328

Visa is trading in a bullish direction in the 4-hour timeframe and the SMA is breaching the slow moving average and is back again to intersect positively today but without confirmation so far.

Visa Daily Technical Analysis | 26 October 2017

We noted earlier that there is a negative harmonic pattern (ab = cd) on the American stock. The pattern achieved its completion point during yesterday's trading and started to fall but not in the correct way to open a trading center without confirmation.
Momentum of the MACD is positively intersecting again, but this time the Histogram chart indicates a negative technical divergence between the index and the stock.
It is expected that if a negative price behavior at 110.52 might target the level of 107.43 to 105.69, on the other hand, a breach of 110.52 might target 111.83.
Support: 106.70- 104.89- 102.94
Resistance: 110.38 - 111.83 - 113.09
Trend: Up

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