Visa Shares Need To See A Bounce At Support Or Bears Could Take Over

Visa Inc. V shares are trading lower Thursday as the payments sector dips lower. Mastercard Inc. MA, and American Express Co. AXP are two other popular payment companies trading lower today.

Visa is down 2.7% at $223.90 at the time of publication.

See Also: Best Credit Card Offers Right Now

Visa Daily Chart Analysis

• The stock looks to be at support in what technical traders call an ascending triangle pattern.
• The $250 price level is an area where the stock has struggled to cross above in the past. This area may act as resistance again in the future, while the higher low trendline may be an area where the stock finds support.
• The stock trades below the 50-day moving average (green), but above the 200-day moving average (blue), indicating the stock is likely facing a period of consolidation.
• The 50-day moving average may act as a place of resistance, while the 200-day moving average could hold as support.
• The Relative Strength Index (RSI) has been dipping the past few days and now sits at 32. This is close to the oversold area and it shows recently there has been many more sellers than buyers in the stock.

What’s Next For Visa?

Bullish traders are looking to see the stock bounce off of the higher low trendline and push higher toward the $250 resistance. Bulls would like to see the stock break above the resistance level and make a further bullish move.

Bearish traders are looking to see the stock fall below the higher low trendline and begin to hold the line as resistance. If the stock can hold this level as resistance, then it may be ready to see a further bearish push.