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Visa Looks Ready To Head Back To Its All-Time High

VantagePoint

The following stock has been highlighted by VantagePoint Software, an artificial intelligence platform that provides market forecasts 1-3 days in advance. For a free demo click here. 

Shares of Visa Inc (NYSE: V) hit an all-time high of $143.14 on July 27, thanks in part to a strong Q3 earnings report in which the credit card company exceeded Wall Street's expectations for EPS and sales and reaffirmed their outlook for the rest of the year. 

Despite subsequently falling to $135, V has bounced back over the last two weeks. And according to VantagePoint Software, it looks like it'll keep moving higher. 

The chart below is a three-month chart of Visa. The blue line on these charts represents a predicted moving average, while the black line represents a simple 10-day moving average. When the blue line is above the black, that represents an uptrend. Vice versa for a downtrend. 

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Notice that despite several down days, the blue line is still above the black. This indicates that the uptrend is still intact. The red-green bar at the bottom of the chart is a neural index, which forecasts whether a stock will move up or down over the next 48 hours, and the grey candle is the predicted range for the current trading day. With the neural index turning green after Monday's session, that's another confirmation of a positive forecast. If the stock can break through $141, which it has yet to do during Tuesday's session, look for it to head back towards it's all-time high. 

VantagePoint Software is a content partner of Benzinga. To see what their indicators say about other stocks, futures, commodities or ETFs, or to get a free demo, click here

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