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CFDs and spread bets are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs and spread bets with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Asset Watch
Wednesday September 28 2022, 12:10pm GMT
Source: TradingView
Similarly, Mastercard released its SpendingPulse U.S. retail sales report on Sep. 12, sharing that “U.S. retail sales excluding automotive in August [were] up +11.7% year over year and +20.4% compared to 2019.”
As Americans continue to swipe their debit and credit cards, results are fundamentally bullish for Visa. While sentiment remains depressed, Visa closed the Sep. 23 session less than $5 from its October 2020 lows. As a result, with seasonality poised to turn bullish in the coming weeks, we may be near a medium-term low.
Visa’s daily RSI ended the Sep. 23 session at 25.25 — the third lowest reading since July 2019, meaning the stock is materially oversold. When Visa’s daily RSI hit 23.48 and 23.84 in March 2022 and October 2020, the bottom was in, and sharp rallies followed.
So, is Visa near an inflexion point, or is something more sinister on the horizon?
Sources:
Visa and Mastercard consumer spending reports:
https://usa.visa.com/partner-with-us/visa-consulting-analytics/spending-momentum-index.html
S&P 500 seasonality
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CFDs and Spreadbets are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of Retail investor accounts lose money when trading CFDs and Spread Bets with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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