Shares of Visa (V) have been trading in a “V” or “>” wedge on their weekly chart for the entire year. The stock has been getting squeezed by any definition of the term and today looks like it is breaking below pattern support. The momentum and money flow indicators are flat, along with the 50 and 200 day moving averages, as would be expected during this type of consolidation. Visa is a short candidate after a weekly close in lower candle range below wedge support. A confirmed directional move could see volatility related to the range compression.
