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Possible Bearish Inside Day Candle Pattern Detected for Visa Inc-Class A (NYSE:V)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Visa Inc-Class A (NYSE:V) based on the price action in the company's shares. Today's price range of $143.65 and $144.76 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Visa Inc-Class A may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Visa Inc-Class A (NYSE:V) is currently priced 1.2% above its average consensus analyst price target of $142.61. The stock should discover initial support at its 50-day moving average (MA) of $143.57 and subsequent support at its 200-day MA of $133.02.

In the past 52 weeks, Visa Inc-Class A share prices have been bracketed by a low of $106.60 and a high of $151.56 and are now at $144.28, 35% above that low price. The 200-day and 50-day moving averages have moved 0.20% higher and 0.13% lower over the past week, respectively.

Visa Inc. operates a retail electronic payments network and manages global financial services. The Company also offers global commerce through the transfer of value and information among financial institutions, merchants, consumers, businesses and government entities.

SmarTrend is monitoring the recent change of momentum in Visa Inc-Class A. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Visa Inc-Class A in search of a potential trend change.

Keywords: bearish inside day candle visa inc-class a

Ticker(s): V