V: Daily Weekly Chart
V: Daily Chart
Tuesday, February 19, 2013
Swing Trade Setup: Visa
Visa (and actually Mastercard as well) is in a great technical position
for a swing trade on the long side this week. V has been in a stable
uptrend for the last two years and recently consolidated gains in an
orderly fashion. Last week, V successfully tested important support,
creating a "Failure Test" setup on the daily chart. These tests often
create short-term buying pressure and it can be rewarding to join the
crowd until the stock records new highs. This is a very clean swing
pattern and I plan to enter the trade later today.
