V Elliott Wave Analysis Trading Lounge.
Visa Inc., (V) Daily Chart.
V Elliott Wave technical analysis
Function: Trend.
Mdoe: Impulsive.
Structure: Motive.
Position: Wave 5 of (1).
Direction: Upside in wave 5.
Details: Looking for continuation within wave (1) as we have just broken above TradingLevel3 at 300$, we could expect resistance within MinorGroup1, especially around 320$.
Visa Inc., (V) 1H Chart
V Elliott Wave technical analysis
Function: Trend.
Mode: Impulsive.
Structure: Motive.
Position: Wave {iii} of 5.
Direction: Upside in (iii) of {iii}.
Details: The gaps to the upside seems to be agreeing with the assumption we are in a wave (iii) of {iii}. Looking for a series of pullbacks as we enter MG1 of 300$.
This analysis of Visa Inc., (V) focuses on both the daily and 1-hour charts, using the Elliott Wave Theory to assess current market trends and forecast future price movements.
V Elliott Wave technical analysis – Daily chart
The daily chart shows that Visa is progressing in wave 5 of an impulsive move within wave (1). After breaking above the significant resistance at TradingLevel 3 ($300), there is potential for continued upside, though resistance could be encountered around MinorGroup1 (MG1), particularly near $320. This region may slow the advance temporarily as the market consolidates gains. However, the overall outlook remains bullish with the expectation that wave 5 will continue pushing higher as wave (1) unfolds.
V Elliott Wave technical analysis – One-hour chart
The 1-hour chart suggests that Visa is in the middle of a strong upward move within wave (iii) of {iii} of wave 5. The recent gaps to the upside support the assumption of a powerful impulsive rally. As the stock moves into MinorGroup1 (MG1) near $300, traders should watch for potential pullbacks or consolidation phases. These minor corrections within the broader uptrend could provide buying opportunities, especially as the bullish momentum in wave (iii) of {iii}continues to drive the price higher.
Technical analyst: Alessio Barretta.
V Elliott Wave technical analysis [Video]
As with any investment opportunity there is a risk of making losses on investments that Trading Lounge expresses opinions on.
Historical results are no guarantee of future returns. Some investments are inherently riskier than others. At worst, you could lose your entire investment. TradingLounge™ uses a range of technical analysis tools, software and basic fundamental analysis as well as economic forecasts aimed at minimizing the potential for loss.
The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without considering your objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice considering your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in securities and derivatives products is appropriate for you considering your financial circumstances.
Recommended content
Editors’ Picks
EUR/USD remains pressured below 1.0800 on renewed USD strength
EUR/USD stays under pressure and declines toward 1.0750 following Thursday's recovery. A renewed US Dollar uptick and a cautious mood weigh on the pair, as traders digest the Trump win and the Federal Reserve's monetary policy announcements.
GBP/USD holds lower ground near 1.2950 amid tepid risk sentiment
GBP/USD trades in negative territory at around 1.2950 in the second half of the day on Friday. The emergence of dip-buying in the US Dollar and a tepid risk tone undermine the pair. The BoE’s cautious rate cut could check the pair's downside as traders comments from central bankers.
Gold fluctuates below $2,700 amid stronger USD, positive risk tone
Gold trades below $2,700 in the early American session on Friday and is pressured by a combination of factors. Hopes that Trump's policies would spur economic growth and inflation, to a larger extent, overshadow the Fed's dovish outlook, which, in turn, helps revive the USD demand.
Week ahead – US CPI to shift market focus back to data after Trump shock
After Trump comeback, normality to return to markets with US CPI. GDP data from UK and Japan to also be important. But volatility to likely persist as markets assess impact of Trump.
October’s US CPI rates to be the next big test for the greenback
With the US elections being over, Trump getting elected and the Fed having released its interest rate decision, we take a look at what next week has in store for the markets. On the monetary front a number of policymakers from various central banks are scheduled to speak at some point or the other.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.