Visa Set to Possibly Rebound After Yesterday's Selloff of 1.37%
Visa (NYSE:V) traded in a range yesterday that spanned from a low of $81.57 to a high of $82.79. Yesterday, the shares fell 1.4%, which took the trading range below the 3-day low of $82.64 on volume of 2.7 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
Over the past year, Visa has traded in a range of $60.00 to $83.79 and is now at $81.91, 37% 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 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 4.9%. We continue to monitor V for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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