If stock could speak, Visa Inc. would say, “Hello, I am a capricious girl, I adore retracing to historical highs non-stop, hate divergence and don’t care a damn about anything, even about the key Fibonacci retracement levels.” How can anyone analyze behavior of such a bad girl? You may say the shares are quite young. But you are wrong, young shares respond to any technical analysis signals better than old ones. As they feel enthusiastic about any idea. Meanwhile, what is indeed characteristic of this equity is its adherence to trends. So don’t get desperate and wait for a long position from the rising trend of July 2011 (currently at about USD 58). What about short positions before the name reaches this mark? I would not advise opening them, as you cannot predict the mark at which it will peak.
The forecast looks messy, but fun – you’ve got to love its creativity: iironmaiden.whotrade...com/blog/43643518951