Fiserv Inc(FISV) is a leading provider of payments and financial services technology solutions. Today, the stock is plunging lower by 11.3% after reporting earnings. The company beat on revenues, but guided in line for FY21. Either way, the stock has now declined below its October lows indicating daily chart weakness and further downside in the near term There are some short term support levels approaching around the $95.00 area, but the better and more important support level is likely to be much lower.
The next key support area for Fiserv Inc (FISV) will be around the $85.00 area. This support level is where the stock was defended back in late March 2020. This particular level shows solid institutional participation and the stock will likely see more sponsorship around this level when it is tested. Traders should keep this equity on the radar when this important support area is tested for a long trade opportunity.
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