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- 1 Visa stock price trades above the 20 and 50-day daily moving average, and following trendline support.
- 2 The year-to-date return of Visa Inc. is 18.09% while the three-month return is 10.51%
- 3 Visa Inc. ( NYSE: V) stock’s 52-week price range is around $174 – $248.
Visa Inc., is a company that offers payment solutions and other services around the world. V’s stock price is relatively cheap compared to other companies in the same industry, based on its price-to-earnings ratio. The price-to-earnings ratio, or P/E ratio, shows how much investors pay for each dollar of earnings. A lower P/E ratio means a cheaper stock. V’s P/E ratio is 31x, which is slightly lower than the peer average of 31.4x. This means V’s stock has a good value.
As per Simply Wall St. which is a financial website, the Vanguard Group Inc. is the top shareholder and owns 6.95% of the Visa Inc. company. It hold’s 141,523,414 V share worth $35.0 Billion.
According to the price action, the V stock is showing signs of a big rise, with a chance to grow more in the next sessions. The stock is moving up with the help of the buyers, who are trying hard to maintain these levels.
Based on recent data, the revenue of the period ending June, 2023 was $8.123 Billion with a net income of 4.09 Billion. Moreover, the V stock estimated EPS for June ‘23 period was 2.11, and the reported EPS was 2.16 which gave a positive surprise of 2.15%. Moreover, the forecasted EPS for the next quarter is positive at 2.25.
V stock has been going up from last year October before the start of 2023, rising and buyers are piling up. V stock price was at $247.14 with an intraday increase of 0.40%. Moreover, the intraday trading volume of V is 4.008 Million lower than the 10-day aggregate volume of 4.183 Million.
The V stock (Visa Stock) continues to show bullish momentum in the uptrend above the key moving averages. On the daily charts, V stock is in the bullish zone and has maintained the uptrend above the 20 and 50-day EMAs.
Technical Analysis of V Stock Price in 1-D Timeframe
As per price action, V’s stock prices have been on a rising trend since October last year, even before 2023 began. The V price found a strong support around $175 and was bought heavily as it was a bargain at that time. The price climbed steadily and smoothly from $175 to $248, reaching the high by August 30th, 2023. The price also followed the Fibonacci levels of 78.60%, 61.80%, 50.00%, 38.20%, and 23.60% and respected them effectively as seen on the charts and bounced back from these Fibo levels.
As per the current market price of $247.14 (at the time of writing), the price faced a minor resistance earlier but recovered from $244 and moved up again.
Therefore, the current stock price of V stock might achieve more, there is a possibility for the price to move toward the next resistance level of $250 and $255.
On the other hand, if the price breaks below the $242 significant support level, it might fall toward $235 and beyond.
At the time of publishing, Visa Inc. (NYSE: V) is trading above the 20 and 50 exponential moving averages, which are indicators of the trend direction. The relative strength index, or RSI, is around 61, which shows that the stock has momentum and is not overbought or oversold. The RSI also bounced back from the 14 simple moving average support and is above the median line, which are signs of bullishness. The moving average convergence divergence, or MACD, also gave a bullish crossover on the charts, which means that the short-term trend is stronger than the long-term trend. All these indicators together show that the stock is in a bullish mode.
Summary
V’s stock prices have been going up lately, trading above the $242 support level per share and showing signs of a strong upward trend. The stock prices could break through the recent high of $248 if they keep rising. The technical indicators for V also confirm the positive outlook, as they have turned bullish. The market sentiment for V is also optimistic, as many traders and investors are buying and holding the stock.
Technical Levels
Support levels: The nearest support levels for V price are $242 and $235.
Resistance levels: The nearest resistance levels for the V stock price are $250 and $255.
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
