Visa (V.US) stock plunged more 5.0% after The Wall Street Journal said that the US Justice Department is investigating whether business practices at the payment processor’s debit-card business is leading to unlawful market dominance. According to WSJ, the department's antitrust division is looking into allegations whether Visa limited the ability of merchants to route debit card transactions over card networks that are often less expensive.
Visa (V.US) stock is trading under pressure today. Price broke below the lower limit of the ascending channel and 200 SMA (red line). If the current sentiment prevails, downward move may be extended to the $200.59 handle. On the other hand, the nearest resistance lies at $211.03. Source: xStation5
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