The bull run continues with VISA...and I love it....yet, I sometimes wonder if it might trade sideways for while and consolidate. Consolidating is good for a stock as it set's it up for the next leg higher, and establishes a base. Just wondering if anyone here would take a guess at which price point we may see this.
Anything can happen in the market and the longs and shorts may have valid points. It has been my experience to see a longer consolidation above 100 on these new issues. My guess, and it is only a guess, that the number for consolidation could be around 120. When we get there is another issue, but when we do, I suspect a large daily or weekly pull back of 20-30% below the consolidation level, to shake the scared money.....I normally protect my investment with a put to at least cover my investment. Right now I'm riding their money and can weather a dramatic turn south. I weathered such turns south in GOOG and MA only to be rewarded with a great payoff.
IMO it should have happened already! Accordingly this can go to most any price till we see the healthy necessary consolidation/pullback.
No one can doubt this is an extraordinary stock!
Since this run up has been fast & furyious, the consolidation may be a little deeper then expected. I am hoping no one gets nervous or shook out on this mega winner. We saw a mini pullback at earnings time and some panicked-no one makes money in a panic.
I see this starting to trade sideways at 100.... until earnings. I'm looking to actively trade this until then and then take all of my short-term trades out and let my long-term options sit until it picks up which will be the ramp to earnings then I see us breaking out to at least 120