Credit card giant Visa (V) is anticipated to report their latest quarterly figures to shareholders and analysts Tuesday evening. Shares of V have been moving lower the past year in a very choppy trading pattern. Let's check the charts ahead of earnings.
In this updated daily bar chart of V, below, we can see that the declining 200-day moving average line has acted as resistance the past 12 months. Prices have rebounded recently to test the declining 50-day moving average line.
The On-Balance-Volume (OBV) line has been soft the past two months. The Moving Average Convergence Divergence (MACD) oscillator has improved in October but is still not above the zero line.
In this weekly Japanese candlestick chart of V, below, we see an ongoing bear trend. Prices are below the declining 40-week moving average line. The candles are not showing us a clear bottom reversal. The weekly OBV line has been in a longer-term declining phase. The MACD oscillator is bearish.
In this daily Point and Figure chart of V, below, we can see a potential upside price target in the $231 area but there is plenty of overhead chart resistance.
In this weekly Point and Figure chart of V, below, we can see the same $231 price target as the daily chart above.
Bottom line strategy: I have no special knowledge of what Visa will tell shareholders this evening. I do not see strong signs of accumulation (buying) ahead of earnings so I would suspect a limited response.
