Visa (V) – Cup and Handle Breakout

By | July 7, 2014

The weekly chart of Visa (V) shows the stock spending the last two years moving higher and the first half of this year consolidating just above its 200 day moving average. Money flow has turned negative, but the RSI is above its centerline and the MacD is attempting a bullish crossover.

33.RVT Visa weekly chart

On the daily chart the last three months of consolidation can be seen as a cup and handle pattern, with rim line resistance in the $216.00 area. On this timeframe money flow is positive and the Money Flow Index, a volume weighted relative strength measure, is above its centerline.
The stock looks like a buy after a close in upper candle range above rim resistance, with an initial stop under the merge of the 50 and 200 day moving averages.

33.RVT Visa daily chart

One thought on “Visa (V) – Cup and Handle Breakout

  1. Pingback: Visa - Cup and Handle Breakout | Rightview Trading

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