Visa is in an upward breakout following a confirmed bullish flag pattern and 50-day MA cross; structure remains good if support at 357 holds.

In the financial sector, I would say there are many charts that I don't really like, but Visa is one of those that I would argue completes a bullish flag pattern, similar to the S&P 500 with its own bullish flag pattern that, I would argue, was decided at the beginning of this week. And now we have seen some upward follow-through so far this week. Visa, in Monday's session the 5th, closed above a clear bullish flag pattern, and today it appears to be continuing to move above the 50-day moving average as well. As a reminder, the bullish flag pattern is a classic chart pattern where you have a large uptrend, followed by a parallel decline at lower highs and lows. In that case, you wait for a breakout above the upper trend line, which we just got on Monday. Today, Tuesday, it appears that we are continuing on the upward trend. I think moving averages are still important, so the fact that we've broken through the 50-day level reinforces, in my view, this type of breakout. If there is any kind of weakness, what's great about a chart like this is that there is clear support around the 357 level. Those are the swing lows from August. It is actually the lowest level of the bullish flag pattern as well. So, as long as we are able to stick to that during setbacks, I would say the structure is still good. At the moment, I see this as an upward breakout, which is essentially a continuation pattern. See how the momentum remains in that neutral range, which is also encouraging.