Visa Bulls in Charge

Published on Monday, 06 February 2012 12:34 Written by Danny Miller

New York, February 6th (TradersHuddle.com) - Shares of Visa Inc. (NYSE:V) booked a new 52 week high today by trading above $107.82, traders are definitely monitoring Visa's price action to see if this move attracts further buying into the stock.

Visa Inc. (NYSE:V) is a retail electronic payments network operator. The company manages global financial services and offers global commerce through the transfer of value and information among financial institutions, merchants, consumers, businesses and government entities.

Visa is currently trading 0.81% versus its previous trading session close, and it has calculated support and resistance at $98.80 and $104.20 respectively. Clearly with this action this range has been penetrated, and traders will be reviewing price action to establish a new tradable range

The overall market index S&P 500 is trading lower by -0.24% from its previous trading close, which means that Visa stock is outperforming the overall market.