Visa Inc.(V) Elliott Wave technical analysis [Video]

V Elliott Wave Analysis Trading Lounge daily chart

V Elliott Wave technical analysis

Function: Trend.

Mode: Impulsive.

Structure: Motive.

Position: Wave (5).

Direction: Upside into wave (5).

Details: Looking for ATHs within wave (5) above 300$ which is Trading Level3, at which point we could either complete (5) or 1 of (5).

V Elliott Wave technical analysis – Daily chart

This wave has the potential to either complete Wave (5) or act as Wave 1 of (5), signaling the beginning of a larger bullish cycle. As Visa approaches the $300 level, traders should watch for price action signals indicating either a continuation higher or a corrective pullback, depending on whether Wave (5) concludes or extends further. 

V Elliott Wave technical analysis

Function: Trend.

Mode: Impulsive.

Structure: Motive.

Position: Wave {a} of 4.

Direction: Looking for completion in wave 4.

Details: Looking for further developments within wave 4 as we could be headed towards 280$ which is also where previous wave {iv} stands.

V Elliott Wave technical analysis – Four-hour chart 

In the 1-hour chart, Visa is in Wave {a} of 4, suggesting that it is in the midst of a correction within Wave 4. The stock could be heading towards $280, a key support level that aligns with the previous Wave {iv} structure. This price level also serves as a potential retracement zone, where the correction could find a bottom before resuming the uptrend.

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 to provide traders with key insights into potential trading opportunities. We will review both the daily and 1-hour charts to give a detailed view of Visa's current trend. 

Visa Inc.(V) Elliott Wave technical analysis [Video]