Visa has solid technical momentum and benefits from tokenized payment trends as a tech play.

We've got a nice day of green across the big board here. in reaction to the highly anticipated rate hike that we got.

been a bit of a rough stretch for the financials, for the banks at least with some of the commentary this week, but Visa left out of that conversation. Well, yeah, Marley, as you look at the momentum in the stock and from a technical standpoint, to me it looks pretty solid.

Giving up a little bit of ground today and I think it's given up a little bit of ground the last few days in reaction to the Clarity Act and not getting through.

Certainly, I think Visa will benefit from the transition to tokenized payment structure and that those dynamics moving forward and I think that's a reason why you continue to see it maintaining it upward momentum when other names have kind of faltered a little bit.

But again, Visa to me is not necessarily a financial play. It's more of a tech play and I think it has been for several years and that's why I think it also is benefiting from some of the general trends.

Right. As you say, bouncing around between this channel type shape. We have our trend line going across the lows here in white. Duplicate it, put it across the highs. It matches up decently in this case here.

Certainly not gospel, but it's a a way to project potential support and resistance going forward. So the counter trend would be starting with these highs 38557 connecting these subsequent highs as well.

So kind of a little bit of tension here between our short-term and longerterm price patterns. We now find ourselves sitting right at the bottom of our channel type shape. So an interesting potential breakout point here if you had more of a bearish outlook or a supportive area if you were looking for more upside in this name and for the move up to continue after this uh uh uh downward phase here.

So horizontal levels to consider are highs near 386. The next set of relative highs here near 377. Some old highs and subsequent lows near 372. And then our most recent relative low near 365.

Also a bit of a a supportive zone here between about 356 to 358 as well. uh giving us uh uh a window into potential support based on the lows that we saw after earnings and a repeated set of lows uh at 358 as well.

So next our moving averages that we look at here our 5day 2163 251day exponential moving averages. We have our 5-day and our 21-day representing one week and one month right on top of each other between 371 and 372.

So we have hit that as a resistance point so far today. haven't managed to break above it just yet here. So that could be a notable pivot point because it is a confluence of uh two indicators coming together.

So look for a close uh significantly above or below that that level near uh 371 372.

RSI is slipping below our 50 midline today. So that would be more of a uh bearish signal here, but really you got to wait for the close with these things. There's all kinds of fake outs that can happen on an intraday basis.

So look for uh perhaps for price to break down below the trend line and for RSI to make a a big push below 50 at the same time to have a more of a confirmatory view.

Um our volume profile study shows we have a small node here near about 362 or so to 364. Another small area of activity here near 380. But really the bulk of all our trading is far below current price activity.

So, not too terribly uh much clear information at these upper levels at this time.

All right. And right now, we're looking at Visa at 36939.

Yeah, uh I think Rick pointed out some of the key uh areas that I was looking at from a technical standpoint as well. Certainly 358 on the low end is a part of the thought process here for the trade example today which is a risk reversal.

This is a November risk reversal. Selling the 360 put. Buying the 385 call. You can do that for a slight credit here. So that would in theory put you in the stock around just below that 360 level if we did see some weakness over the next 60 days which is a November strike uh pattern here.

And so again, uh, opportunity to get put in the stock where I see some support as well from a little bit longer term perspective and also the opportunity to participate if we do break above those highs that we did see right around that 386 level.