We reviewed Visa Inc. (V) last month, writing, "The price of V is extended when compared to the 200-day moving average and the 40-week moving average. Later in an advance overbought means new buyers need to be careful and think carefully about buying "at the market." However things play out, I would suggest raising sell stop protection to just below the last low or a close below $106." Prices have dipped a little in recent days so let's check in again.
In this daily bar chart of V, below, we can see that prices are hesitating just a little. The trend is still up with prices above the rising 50-day moving average line and the rising 200-day line. The daily On-Balance-Volume (OBV) line looks like it is making a minor peak and could mean that some sellers of V are being more aggressive. In the bottom panel is the 12-day momentum study and it does not show any bearish divergences.
In this weekly bar chart of V, below, we can see that all are indicators are positive. Prices are above the 40-week moving average line. The weekly OBV line is pointed higher as it the Moving Average Convergence Divergence (MACD) oscillator.
In this Point and Figure chart of V, below, we can see that prices have exceeded the $118 price target but there is no distribution or selling on this chart.
Bottom line: With the stock price of Visa's competitor MasterCard (MA) soaring today we shouldn't get negative on V. I would suggest raising sell stop protection to a close below $114 from a close below $106.