Visa - Daily

A look at Visa's stock ahead of its earnings later today. The company is expected to report earnings after the US market closes (21:00 GMT).

Taking a look at Visa ahead of its earnings later today, the company is expected to report earnings after the US market closes (21:00 GMT). Currently, its stock is trading at around $232.42 a share and we can see that the price continues to sit within the channel drawn on the chart. It tested the support along the lower trendline yesterday ($230.45) but has slightly bounced since. The volatility of this should not be on the higher end of the spectrum until the report is released. Since the support was upheld yesterday, a positive report may see the price jump higher. Therefore, resistance sits at $233.58 then at $235.92. A break and close above $235.92 could see a move higher back up to the $240 mark. On the other hand, a miss in earnings may result in downside pressure and potentially a break below the trendline support. A break of $230.45 would still need to face $226.00, but a move below $226.00 would be an indication that further downside is possible with the support after that resting at $221.26. Looking at the technical indicators, they actually suggest more of a bearish bias as it seems like the MACD line has just moved below the signal line and the RSI now reads 39.