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Tuesday, April 22, 2008

A Look At Visa's Technical Picture


Recently, I talked about why I like Visa Inc. (NYSE:V). Now, almost a month later and with more data points, we have a clearer technical picture of it. It cleared $67 resistance and last Friday, traded above $69, its first trading day high as well as all time high since IPO, supported by very heavy volume. Today, it touch the tip of the uptrend channel before pulling back slightly intraday. This paints a bullish picture of Visa, but now may not be a low risk entry point. Wait for a pullback or after earnings on 28 April. Take note that Visa is now optionable.


This coming week is filled with earnings reports and more earnings reports. Here's the calendar for the week.

Mon:
Notable earnings: AMLN, ACI, BAC, CNI, GCI, HAL, NVLS, NFLX, STLD, TXN, USNA

Tue:
Notable earnings: AKS, T, BHI, CME, CREE, CERN, ECA, DD, ILMN, LMT, MICC, BTU, PPDI, SIAL, TUP, UAUA, UNH, VMW, XL, YHOO, YUM, MCD

Wed:
Existing Home Sales
Notable earnings: APD, ACL, AMZN, ABK, AAPL, BIIB, CMG, GD, TEX, LRCX, MCO, NE, NTRI, PFCB, QCOM, R, RYL, BA, UPS, VAR, ZBRA

Thurs:
Durable Orders, New Home Sales
Notable earnings: MMM, AET, BIDU, BDK, BUCY, BG, CENX, COP, CS, DO, GR, FLIR, HME, IBKR, KLAC, LLL, LTM, MDC, MEE, WFR, MSFT, TRA, UNP, ZMH, YRCW, VSEA, SYNT, SYNA, MOT, OXY, POOL, POT, RVBD, HOT, SIRF, NTGR

Fri: Michigan Sentiment
Notable earnings: CVH

2 Comments:

Blogger Tony Chai said...

Hi SOT :

Interesting update on Visa(V).

It would be interesting to see how Visa's earnings announcement come head-to-head with MasterCard (MA).

Thanks.

Regards,

Tony Chai
My Options Trading Blog

4:43 PM  
Blogger Simply Options Trader said...

I've bought some far OTM call options last week and close partial for tidy profit. Holding on to remainder for earnings play as these options are effectively a "free play" with the profits earned last week. This is one of my very rare earnings play because its risk-free.

7:57 PM  

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