Elliott Wave Analysis of Visa Inc. (V) - September 20, 2024
In this Elliott Wave analysis of Visa Inc. (V) as of September 20, 2024, we will explore the stock's current price movements and wave structure. Our goal is to provide traders with insights into potential trading opportunities. We will examine both the daily and 1-hour charts to offer a comprehensive view of Visa's ongoing trend.
V Elliott Wave Analysis - Daily Chart
Visa Inc. (V) Daily Chart Analysis
V Elliott Wave Technical Analysis
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Wave (5)
Direction: Upside into wave (5)
Details: Looking for new all-time highs (ATHs) within Wave (5) above $300, which aligns with Trading Level 3. At this point, we could either complete Wave (5) or see the development of Wave 1 of (5).
V Elliott Wave Technical Analysis – Daily Chart
This wave setup can potentially complete Wave (5) or act as the start of a larger bullish cycle, forming Wave 1 of (5). As Visa nears the $300 level, traders should monitor price action closely. A continuation higher could signal further upside potential, while a corrective pullback might indicate that Wave (5) has reached its conclusion.
V Elliott Wave Analysis - TradingLounge 1-Hour Chart
Visa Inc. (V) 1H Chart Analysis
V Elliott Wave Technical Analysis
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Wave {a} of 4
Direction: Seeking completion in Wave 4
Details: Expecting further developments within Wave 4, with Visa potentially heading toward $280, which aligns with the previous Wave {iv} structure.
V Elliott Wave Technical Analysis – 1H Chart
In the 1-hour chart, Visa is within Wave {a} of 4, indicating a corrective phase within Wave 4. The stock may move toward $280, a significant support level that coincides with the previous Wave {iv} zone. This area is a potential retracement zone, where the correction could find support before resuming the overall uptrend.
Technical Analyst: Alessio Barretta
Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here
See Previous: NextEra Energy Inc. (NEE) Elliott Wave Technical Analysis
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