TraderEye Market View: Visa stock strongly breaks out of a daily wedge pattern

Thursday, August 29, 2024

Visa stock strongly breaks out of a daily wedge pattern

Visa's stock is strongly breaking out of a daily wedge pattern after a long period of time. It is evident that there is a great pressure of collecting stocks at relatively low prices during the period when the stock faltered. Breaking the pattern may allow the stock to strengthen.

Visa is an American multinational payment card services corporation headquartered in San

Francisco, California. It enables electronic money transfers around the world, usually using Visa-branded credit cards, debit cards and prepaid cards.

Attached is a daily graph of the stock showing the pattern and its breakout.

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