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Look for Shares of Visa to Potentially Rebound after Yesterday's 1.12% Sell Off

By Nick Russo

Visa (NYSE:V) traded in a range yesterday that spanned from a low of $89.20 to a high of $92.05. Yesterday, the shares fell 1.1%, which took the trading range below the 3-day low of $89.41 on volume of 4.3 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

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 11.6%. We continue to monitor V for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Visa share prices have moved between a 52-week high of $92.05 and a 52-week low of $60.00 and are now trading 49% above that low price at $89.25 per share. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.6%.

Keywords: rebounders Visa

Ticker(s): V