Visa is expected to report earnings of $2.11 on revenue of $8.06bn. Currently, its stock is trading at around $239.74 a share.

Taking a look at Visa as the company is due to report earnings tomorrow. It is expected to report earnings of $2.11 on revenue of $8.06bn.  Currently, it is trading at around $239.74 a share, looking at the daily timeframe, we can see that the price has been rallying within the channel drawn on the chart. The price has created higher lows as well as higher highs, this is usually deemed as an indicator of a bullish trend. But looking at the stock for a shorter-term outlook, there was a support level test on Friday which tested the 20-day moving average ($237.35). It is now trading above it, however, if we see a move and close below it then we may see a further fall towards the 50-day MA ($231.53) and maybe even the 100-day MA ($228.68). Resistance now sits at $240.27 then at $241.27. A break above it would then allow us to look higher, with the target once again of $245 a share. Over to the technical indicators, MACD has turned negative but the RSI remains positive as it reads 58, suggesting a mixed view. There isn’t a clear view of direction which tends to happen prior to the earnings.