V | A quick Zoom Out gives a mixed outlookVisa has been forming a rising wedge since it's pre-March Highs, forming Higher lows over the past few months.
Now, I am really unsure how to interpret this one coming into ER on the 27th Jan. I am slightly inclined to think Covid may have been the beginning of the end of Visa as we know it.
My bear case on any negative news would see this trading back down to ~$174, implying 12% downside from current levels, potentially setting off a slow bleed for this payments behemoth.
Will be ready to pull the sell trigger on a very long term holding of mine in V if the lower up-trending support were to be broken to the downside. I would not go short, however, just lock in gains.
Any thoughts? Would happily be wrong on this one!
(*This is not financial advice, for sake of discussion and illustrative purposes only*)
