Visa continues to be under pressure as Amazon are now banning Visa credit payments due to their high fees. The stock also has big headwinds as new companies and crypto en

Visa Inc (NASDAQ: V) is a US payment processing company. The brand is very well recognised around the globe. The stock is down 17.8% from its highs with more downside likely as Amazon will be banning Visa credit card payments due to their high costs.

From a technical aspect, the stock looks poor. MACD is slightly negative on the daily with an RSI reading of 39. The stock is still below the 20, 50 and 100 moving averages and pressure continues. Looking to the upside the stock has tough resistance above at $215, $222 and then $224. Even if these hurdles are broken more resistance sits above $236. Looking to the downside, initial targets are $200 followed by $185 which would see it back to pre-pandemic levels.

The outlook for Visa looks poor. The financial payments industry is becoming quite crowded and while Visa did hold the top spot for some time, companies like Square, PayPal and Stripe have more innovation and cheaper fees. To add to this, Crypto also be a headwind for Visa unless they adopt it as a payment method.