Is Visa Breaking Out?

Published on Thursday, 19 January 2012 09:40 Written by Christopher Lynn

New York, January 19th (TradersHuddle.com) - Shares of Visa Inc. (NYSE:V) closed the trading session at $103.78 just above calculated resistance at $103.40 moving to what appears to be a new range, as this move will clearly raise the attention of momentum buyers.

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's stock was trading in a well defined range with support at $88.78 and resistance at $103.40, given that this range was broken traders will be closely monitoring the stock