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Wednesday, August 18, 2010

Visa (V) ready for big movement

Very strong triangular consolidation pattern:

Upside target = $87.5
Downside target = $60

Factors affecting Price Movement:
* Bearish: Combine with market nervousness of September as "down month", I am inclining more towards bearish camp.
 * Bearish: Obama financial reform for credit card companies could impact sector, though visa is in more immune than credit card companies.

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