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Watch for Continued Gains in Shares of Visa (V)

By Nick Russo

Shares of Visa (NYSE:V) traded at a new 52-week high today of $83.68. Approximately 970,000 shares have changed hands today, as compared to an average 30-day volume of 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.

Potential upside of 2.2% exists for Visa, based on a current level of $83.63 and analysts' average consensus price target of $85.50. 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.

In the past 52 weeks, Visa share prices have been bracketed by a low of $60.00 and a high of $83.68 and are now at $83.63, 39% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.6%.

SmarTrend recommended that subscribers consider buying shares of Visa on July 20th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $79.25. Since that recommendation, shares of Visa have risen 5.0%. 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