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

By James Quinn

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. Yesterday's price range of $137.41 and $138.60 is within the prior day'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 share prices have moved between a 52-week high of $151.56 and a 52-week low of $111.02 and closed yesterday at 25% above that low price at $138.25 per share. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has remained constant.

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.

Visa Inc-Class A has overhead space with shares priced $138.25, or 3.1% below the average consensus analyst price target of $142.61. Visa Inc-Class A shares have support at the 50-day moving average (MA) of $136.44 and additional support at the 200-day MA of $136.09.

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 am inside day candle visa inc-class a

Ticker(s): V