Visa May Be Attempting a Breakout

2023년 6월 30일

Visa has barely moved since February, but traders could look for that to change as a new quarter approaches.

The first pattern on today’s chart is the series of higher monthly lows since December.

Those have been followed by higher daily lows since May 31. Prices were trapped below a high from April 2022 until jumping yesterday. That broke the top of an ascending triangle, a potentially bullish continuation pattern.

V additionally pushed through its 50-day simple moving average (SMA).

Speaking of moving averages, the 8-day exponential moving average (EMA) recently crossed above the 21-day EMA. Combined with the rising MACD, that could indicate the shorter-term trend has grown more bullish.

Finally, the lower study shows narrowing Bollinger Band Width as V paused in the first half of 2023. Does that open the door to price expansion in the second half?

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