A 52 Week High for Visa, will it Hold?

Published on Friday, 23 November 2012 11:34 Written by TradersHuddle Wire

v New York, November 23rd (TradersHuddle.com) - Shares of Visa Inc. (NYSE:V) booked a new 52 week high today by trading above $147.38, 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 0.14% versus its previous trading session close, and it has calculated support and resistance at $135.93 and $147.38 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 higher by 0.93% from its previous trading close, which means that Visa stock is underperforming the overall market.

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