The following is technical & fundamental analysis for Visa ( V ) stock for 1/26/09. You can see a chart of this analysis by going to http://blackberrystocks.com/visa.html
Visa ( V ) Support and Resistance Levels:
Resistance - $47.50, $50, $52
Support - $43.50, $41.78, $40
Visa ( V ) has totally broken down and broken both low points ( $43.65 and $43.54 ) that formed the double bottom....this is very concerning and is bearish for the stock. Resistance is now at the $47.50 area and if Visa gets a close over this level, $50 will be tested. $50 is another strong resistance level but if closed above you could get buyers flowing back into the stock again. Right now, support appears to be at $42 for Visa. The problem with Visa stock is the company is so tied to the economy. With all the unknowns out there, speculating Analysts have nothing good to say about the current state of the economy and will downgrade a stock like Visa. The stock market typically turns upward six months before the economy starts to show improvement and Visa will be the first to turn with the market. My opinion - If Visa stock dips below $40 I will have to start a long position.
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