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Watch for Continued Gains in Shares of Visa (V)

By Nick Russo

Shares of Visa (NYSE:V) traded today at $93.56, breaking its 52-week high. This new high was reached on below average trading volume as 579,000 shares traded hands, while the average 30-day volume is approximately 8.2 million shares.

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 (NYSE:V) has potential upside of 4.9% based on a current price of $93.52 and analysts' consensus price target of $98.06. Visa shares have support at the 50-day moving average (MA) of $75.94 and additional support at the 200-day MA of $74.77.

Over the past year, Visa has traded in a range of $60.00 to $93.56 and is now at $93.52, 56% above that low. The 200-day and 50-day moving averages have moved 0.16% higher and 0.57% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Visa on January 5th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $80.88. Since that recommendation, shares of Visa have risen 15.3%. We continue to monitor V for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows Visa

Ticker(s): V