In today's stock of the day, let's revisit Visa, where we're seeing a strong buy signal emerging from two key technical factors.
Firstly, the price has moved back above the green long-term uptrend line after briefly dipping below it. This quick reversal suggests a false bearish breakout, which often signals a strong buying opportunity as it indicates that sellers failed to maintain control.
Secondly, we have a bullish breakout from a flag pattern marked with blue lines. The flag pattern represents the end of a bearish correction, and breaking above the upper boundary of the flag is a classic technical signal to go long.
With these two signals—reclaiming the uptrend line and breaking out of the flag—Visa looks set for a positive move. As long as the price remains above these key levels, the sentiment stays bullish. If the price were to fall back inside the flag, it would negate this bullish outlook, but for now, the chances of a bearish reversal seem low.