Visa Inc (US: V) looks set to continue its uptrend momentum:   

1. Prices are still trending strongly above the primary and secondary lines. Such strong momentum tends to indicate stronger momentum in the near–term, where prices extend further above the secondary trend line.
2. The bullish pin-bar on Tuesday is above support zone 1 of US$229-US$232 and the Tenkan-Sen, signalling demand.
3. All 5 Ichimoku indicators are displaying strong bullish signals. In particular, the Senkou-Span A is beginning to display an upslope, suggesting a continuation of the uptrend.

*Expected timeline of the trade is 10 weeks from the date of report issuance.

*In the event of a break below US$220.00, we expect prices to test the lower support zone 2 of US$214.00 before staging a rebound.

CHART LEGEND

Ichimoku Kinko Hyo

Red dotted line: 26-period Kijun-Sen

Blue dotted line: 9-period Tenkan-Sen

Green line B: 52-period Senkou-Span B

Pink line A: 26-period Senkou-Span A

Black line: 26-period Chikou-Span. (Lagging line)