Don't Ignore This Chart!

Put This On Your Dance Card?

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Payment systems had a fabulous year last year and the shape of the charts has been pretty good this year. Visa (V) looks great here.Visa just keeps banging its head on the the $125 level. The SCTR has started to push up in the last few days. The Relative Strength line has hit new 52-week highs suggesting more upside. With the 50 period moving average trying to support the stock, I would keep $120 as a stop.


There are some opportunities being shown after this recent dip. Believe it or not, Energy had some nice moves in individual names today. 


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There is a major coordination of big trend lines on many of the charts. If you would like to watch a few videos about them, you can use these video links below.



Good trading,
Greg Schnell, CMT, MFTA.

Greg Schnell
About the author: , CMT, is a Senior Technical Analyst at StockCharts.com specializing in intermarket and commodities analysis. He is also the co-author of Stock Charts For Dummies (Wiley, 2018). Based in Calgary, Greg is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is an active member of both the CMT Association and the International Federation of Technical Analysts (IFTA). Learn More
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