Visa inc. (V) Elliott Wave technical analysis [Video]

V Elliott Wave technical analysis

Function: Trend.

Mode: Impulse.

Structure: Motive.

Position: Minor wave 5 of (1).

Direction: Top in wave 5.  

Details: Monitoring how much more upside left there is. We can clearly see an RSI bearish divergence in place, which could suggest a top is imminent. There is also an alternative count, where we have wave 1 and 2 where current wave 3 and 4 are.  

V Elliott Wave Analysis Trading Lounge 4Hr Chart, 8 February 24.

Visa Inc., (V) 4Hr Chart.

V Elliott Wave technical analysis

Function: Trend.

Mode: Impulsive.

Structure: Motive.

Position: Wave (v) of {v).

Direction: Upside into wave (v).  

Details: As wave (iii) was shorter than wave (v) we need to have wave (v) shorter than (iii), therefore invalidation level would stand at 288. Using the levels, the next obvious resistance level is the end of MG2 at 280$, and then TL3 at 300$.  

Welcome to our V Elliott Wave Analysis Trading Lounge, your premier destination for in-depth analysis of Visa Inc. (V) through Elliott Wave Technical Analysis. As of the Daily Chart on 8th February 2024, we unravel crucial insights into market trends.

*V Elliott Wave Technical Analysis – Daily Chart*

In terms of wave dynamics, we observe a prevailing impulse function with a motive structure. The current position is in Minor wave 5 of (1), indicating a potential top in wave 5. Our focus lies in monitoring the remaining upside potential. Notably, we identify an RSI bearish divergence, hinting at a looming top. Additionally, an alternative count suggests the current wave 3 and 4 might be wave 1 and 2, adding complexity to the analysis.

*V Elliott Wave Technical Analysis – 4Hr Chart*

Here, the wave function maintains its impulsive nature with a motive structure. The present position is in Wave (v) of {v}, signaling an upside movement into wave (v). Notably, to maintain wave count integrity, wave (v) must be shorter than wave (iii), with an invalidation level set at $288. Key resistance levels include the end of MG2 at $280 and TL3 at $300.

Technical Analyst: Alessio Barretta.