Visa trapped in a hesitant place - Analysis - 03-08-2022

Visa's stock (V) declined in the intraday levels after major investors called for the credit card giant to present payment services to Pornhub, sending the stock down 2.41%, or 5.10 points, and settling at 206.26, with trading volumes surpassing 10 million shares, above 10-day averages of 7.3 million shares.

The stock is trading alongside the short-term downward trend line, with negative signals from the RSI, leaning thereafter on the 50-day SMA.

Therefore we expect more losses for the stock, targeting the pivotal support of 190.10, provided the resistance of 217.60 holds on.

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Expected trend for today: Bearish