Stock of the day: Visa
25 September 2024
In today’s stock analysis, we’ll focus on Visa, which has shown some significant movements this week. The stock attempted to break above the key horizontal resistance at $290, marked in orange, but failed to sustain this breakout. This false bullish breakout, highlighted with a black rectangle, has set a bearish tone for Visa, suggesting a potential sell signal.
Yesterday’s session saw a sharp decline, and the stock is now approaching the green uptrend line. A bounce from this level could offer a short-term positive outlook. However, it’s crucial to watch closely, as a daily close below this green uptrend line would confirm a longer-term sell signal, indicating further downside potential for Visa.