VISA Short-term correction. Know where to buy.

Visa (V) has been trading within a long-term Channel up pattern since the October 13 2022 Low. The 1D MA50 (blue trend-line) has been in support of the latest Bullish Leg since November 02 2023, so there is a long-time that the stock hasn't given a healthy pull-back for medium-term buying.

This has come in the past in the form of an approximately -8.00% correction, particularly when the 1D RSI posts a Bearish Divergence, i.e. trades within a Channel Down while the stock is within a Channel Up.

As we are currently on such a Bearish Divergence since January 25, we expect a technical pull-back soon, thus turning bearish and targeting the 1D MA100 (green trend-line) at $270, where we will start buying again for the medium-term.


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