Visa Stock Outperforms Expectations - A Surprising 3% Increase This Month And On The Cusp Of Shattering Records

• China's regulatory authorities have allowed for the integration of Visa and Mastercard with two predominant mobile payment platforms, Alipay and WeChat Pay, to ease financial transactions for foreign visitors.
• These integrations come amidst a surge in Visa's stock prices, which has seen an over 14% increase this year and could potentially surpass its previous record.

China's regulatory bodies have taken a significant step in facilitating financial transactions for foreign visitors.

They have enabled the integration of Visa Inc V along with Mastercard Inc MA accounts with two leading mobile payment platforms in the country, Alipay and WeChat Pay.

These platforms dominate the digital payment landscape in China, boasting an impressive combined market share of 91%.

Visa's stock has been steadily rising this year, with a gain of over 14%, and this recent news could push it even higher, surpassing its previous record high.

After reaching a peak of $252.67 in July 2021, the stock entered a period of consolidation, fluctuating between $174.60 and that peak.

However, in June 2023, there were signs of potential upward momentum as the stock climbed 7.27% for the month, closing just above the peak of 2022. This signifies the robustness of Visa's stock and implies the potential for further growth.

In July 2023, Visa came within $7 of the all-time high. Price then experienced a small decline, moving down towards the daily 20 simple moving average at $237.41.

Additionally, the previous year's high of $235.85 now serves as another support level.

The technical indicators suggest that a significant breakout is likely to happen soon. If the price rebounds from any of these support levels, it has the potential to gain the necessary momentum to reach the all-time high again.

Investors must remain attentive for a potential opportunity. A breakthrough could indicate a favorable moment to pursue new positions and ride the emerging trend. 

The period of consolidation is nearing its end, suggesting a noteworthy upward shift in the stock price.

Visa has the ability to trend really well, as it has displayed before the current period of consolidation. A breakout could lead to another strong bullish trend that could also last for several years.

That's why it's important to pay close attention to Visa. If a breakout occurs, the next significant barrier to overcome would be the psychological level of $300, which is some distance away.

After the closing bell on Friday, July 21, the stock closed at $239.25, trading down by 0.15%.