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- 1 Visa stock price is taking support on the 100 EMA on the 4H timeframe wittnessing the Bearish pressure.
- 2 V Stock price dropped by 2.71% this week.
- 3 Visa stock price looks strong on the weekly charts.
Visa stock price witnessed bearish pressure, taking rejection from the level of $250 and broke below the 50 EMA.
V stock price performance was good throughout the year. However, the stock price has been experiencing weakness in recent weeks down by -2.71%.
Moreover, the stock gave a decent return of 15.19% since the beginning of the year and 12.19% in the span of 6 years. However, the momentum has slowed down recently, giving a 1.92% return this month.
Q3 2023 was weak in terms of profit margin and net income compared to Q2 ‘23. In Q2 ‘23, the company reported a revenue of $7.99 Billion with a net income of $4.19 Billion. Additionally, the profit margin is 52.42% which was reduced in Q3 23 and gave a 50.35% profit margin.
At the time of writing, V stock price was $241.07 with a trading volume of 13.078 Million. The average trading volume in the previous 10 days is 5.76 Million. Visa stock has a market cap of $491.437 Billion with a share float of 1.602 Billion.
Will Visa Stock Price Break Below 50 EMA Support?
Visa stock price is trading in a rising channel taking rejection from the level of $250, taking support on the 50 EMA, trading above the 100 and 200-Day EMAs. However, if the shorting increases, V stock price could break below the 50 EMA and reach the lower levels of $235.61 and $227.90, respectively.
MACD curve is trading at 1.26 points and signal curve is trading at 1.86 above the zero line. A bearish cross was seen in the MACD and the signal curve facing downward with a red histogram indicating bearishness.
The RSI curve broke below the median line at 44.33 points heading toward the oversold zone.
What Weekly Timeframe Tells About Visa Stock Price
Visa stock price is bullish in the weekly timeframe, making a higher high structure. Indicators are also supporting the stock trading in the positive zone.
MACD curve is trading at 5.61 points above the zero line, indicating bullishness. RSI is trading at 56.95 points, above the median line indicating bullishness.
Analysts’ Price Targets for the V stock
As per TradingView, 38 analysts rated V stock for the past 3 months. The overall weightage is on the strong buy-side where 28 analysts rated V stock as a strong buy, 6 gave a buy rating, and 4 gave a hold rating.
34 analysts provide price targets for 1 year where the max price target is $336.00 which is 39.38% up from the current price. Additionally, analysts set a minimum price target of $220.00, which is 8.74% lower than the current price.
Conclusion
V stock price is showing weakness on a daily time frame, but it is bullish on the weekly timeframe. MACD, RSI, and EMA are showing mild weakness on the charts. However, the Visa stock is bullish in the long term.
Technical Levels
- Support Levels: $237.87 and $230.07.
- Resistance Levels: $250.86 and $256.04.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
