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