One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Visa (V) just hit that mark, with a jump from 80 to 83 Thursday.
↑ XThis unique rating tracks market leadership by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the trailing 52 weeks matches up against that of all other stocks.
Decades of market research reveals that the best stocks typically have an RS Rating of at least 80 in the early stages of their moves.
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Visa is now considered extended and out of buy range after clearing a 291.04 buy point in a first-stage cup with handle. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
The company saw both earnings and sales growth rise last quarter. Earnings-per-share increased from 12% to 16%. Revenue rose from 10% to 12%. The company is expected to report its latest results on or around Jan. 23.
Visa earns the No. 6 rank among its peers in the Finance-Card/Payment Processing industry group. Shift4 Payments (FOUR), Paymentus Holdings (PAY) and Discover Finl Svcs (DFS) are among the top 5 highly rated stocks within the group.
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