In his The Ticker Tape Digest, technician Leo Fasciocco looks for stocks that have broken out of basing patterns; his latest breakout stock is credit card processing firm Visa (NYSE: V).
"Visa manages a group of global payment card brands. It licenses them to financial institutions that issue cards to their customers. The company maintains the largest card service in the world with annual revenue of $6.5 billion.
"The stock soared after it came public. It peaked at 90 and then was swept lower with the bear market. The stock has put in what seems to be a good bottom. The key is for it to kick in an up trend. That is quite possible now, but not a given.
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