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Watch for Visa to Potentially Rebound After Falling 1.12% Yesterday

By Shiri Gupta

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.

In the past 52 weeks, shares of Visa have traded between a low of $60.00 and a high of $92.05 and are now at $89.25, which is 49% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has risen 0.2%.

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.

Keywords: rebounders Visa

Ticker(s): V