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- Visa stock price shows a correction from last night’s low price.
- Price behavior of VISA stock is indicating a double bottom formation in the 4-hours chart.
- The daily RSI indicator turned bullish on the daily time frame and after yesterday’s price pullback.
NYSE: Visa share price hit a new 2022 low of $174.60 on Thursday. The bears were able to record this bottom due to the gap-down price opening. Buyers are trying to manage the fall in prices. Due to Digestion, the buyers have been witnessing bearish trends till now.
So far, Visa stock price remains above the $180 level against the USD. The recent trading session was surprising for the bulls as Visa stock was up 3.6%. Amidst this price recovery, the asset recovered +6.42 points on the day, resulting in a close at the $184.66 level. Thus, the RSI indicator is moving above the semi-line on the 4-hours chart.
Amid price recovery last night the VISA stock price tried to form double bottom formation above the $175 zone in the context of the 4 Hour chart. If buyers manage bullish momentum on Friday then definitely value may go up until the next ideological round level of $200. Natably for October, the trading range is $175 to $200 support to resistance.
Weekend is so close and there is one more trading session. Buyers were aggressive on Thursday because the global market performed well. Meanwhile, Dow Jones recap the $30K level along with 2.83% recovery. The S&P as well as Nasdaq recorded over 2.2% recovery in a single day. This one day gain may influence Institutional Investors for buying.
As per the weekly time frame, Visa stock price looks bearish as it remains below the 200 day moving average. On the daily price scale, after yesterday’s price hike, buyers reached at 20 DMA as an immediate resistance. In addition, daily RSI is about to reach semi-line.
Conclusion
The Visa stock price seems to be bullish after yesterday’s gain. Now the 20 day moving average acts as an upcoming resistance level.
Support level – $175 and $150
Resistance level – $200 and $235
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
