Visa Inc.

Visa: Corrective Upward Move

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In our primary scenario, we place Visa in the corrective upward move of blue wave (x). After the top, we expect the broader downward trend of turquoise wave 4 to take hold, which should push the stock into our turquoise Target Zone between $308.09 and $292.19. At that level, we anticipate a sustained reversal. From this low, a new upward impulse is likely: wave 5 should then have enough strength to lift price above the resistance levels at $375.51 and $394.49. However, an alternative scenario remains relevant: there is a 33% probability that the correction of wave alt.4 has already concluded. If so, the stock could immediately break above the resistance levels mentioned.

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