Visa Inc Stock Code V.NYS
Outlook
Five days ago, price moved above the cloud but it dropped back below after two days. Price staged a second attempt to break above the cloud last Thursday and on Friday, price stayed above the cloud for a second consecutive day and also closed above the recent high when it moved above the cloud. This breakout of the previous high created an Ichimoku V reversal with a price projection of $188.68. The second breakout is stronger and the near term trend is bullish for this stock. While Conversion and Base lines have yet to crossover, Lagging Span is above price compared to 26 periods ago and above the cloud as well. This could be the confirmation for a bullish trend. MACD is bullish and rising with both its lines above the zero line. This is another indication of a bullish trend ahead.
Strategy
$180.20 Buy
$188.68 Price Target
$176.20 Risk Management Stop
3 weeks Trade Duration
Broadcom Inc Stock Code AVGO.NAS
Outlook
Price on Friday closed at its high and above a recent breakout high as well. Both Conversion and Base lines had a bullish crossover a couple of days before the breakout of the cloud, confirming the bullish trend. Lagging Span is also above the price of 26 days ago and above the cloud, confirming the bullish trend. MACD is also bullish and both its lines are rising and above the zero line. Going by Ichimoku N price projection we have a price target of $303.44, which is closed to recent high near $305. If price can move above this resistance zone, the next price objection would be the Ichimoku E price projection at $316.58.
Strategy
$295.80 Buy
$316.55 Price Target
$283.30 Risk Management Stop
3 weeks Trade Duration
