The Elliott Wave Analysis of Visa Inc. presented in the article provides insights into the daily and 4-hour chart movements of the stock. The analysis focuses on identifying the current phase as a corrective counter-trend phase with a ZigZag structure identified as Intermediate wave (4). The direction suggests a potential bottoming out in wave (4), with the possibility of Intermediate wave (3) completion.
The analysis hints at an Intermediate wave (3) in place, considering the magnitude of the correction matching that of wave (2). This observation serves as a valuable insight for investors looking to navigate the market effectively. The corrective phase in Visa Inc. is crucial for understanding the potential direction of the stock and may indicate a bottoming out in wave (4).
Zooming into the 4-hour chart, the corrective phase within Intermediate wave (4) is further examined, with a focus on wave A. The analysis suggests a potential bottom in wave A, supported by bullish divergence in the Relative Strength Index (RSI). Alternatively, there is a possibility of a sharp wave (4) unfolding, alternating with a sideways wave (2) pattern. The wave analysis provides traders with essential information to make informed decisions regarding Visa Inc. stock.
The analysis is credited to Alessio Barretta, a technical analyst, whose insights have been instrumental in understanding the Elliott Wave patterns in Visa Inc. stock. Barretta’s expertise adds credibility to the analysis and assists investors in interpreting the wave structures effectively.
The Elliott Wave Analysis of Visa Inc. presented in the article sheds light on the corrective phase in the stock, identifying potential wave patterns and directions. The analysis serves as a valuable tool for investors and traders seeking to make informed decisions based on the technical analysis of Visa Inc. stock.
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