Mastercard Inc (MA) – [ Still In A Range? ]

Chart Source: Poems2.0 26th Oct 2021

Mastercard Inc (MA) has in a consolidation for about 2 months already. From a pullback, it went into a consolidation and is now at the upper band of the conso. Mastercard has to stay above $361 in order to have a nice clean break. If not it might pullback once again. A bullish sign was spotted just three days back when we saw a nice hammer candle with the 50ema helping to hold it. It managed to stay above the 50ema at closing which is a good sign for us. It has also broke above the downtrend resistance line which is another positive sign.

Looking either for a breakout or pullback to support levels at 352 before any entry. Upside resistance drawn on the chart at around $369, 375 and $383.

Yours

Humbly

Kelwin&Roy

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