The stock chart on Visa (V) should concern stock investors and traders. There is a classic bear wedge developing on the chart. Technical traders will tell you this is a strong sell signal. Visa shares will likely see significant downside when the low pivot of the wedge is violated. The 3 month price target signals a move to $157.00 from its current $180.82. The investors public largely remains bullish on the credit card stocks.
Investors should be wary as a likely major talking point for the presidential candidates in 2020 will be credit card interest rates on the poor and middle class households. This could be a significant headwind and mean there is no upside in these stocks for over a year. Investors should consider themselves on notice. Visa stock is rated a sell by Master Trader Gareth Soloway. He expects the $157 price target on Visa stock to be hit by end of year with more downside in 2020 into the elections.
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