Mastercard (MA) Price Near $327.90; Moves Down For the 3rd Day In A Row, Pin Bar Pattern Appearing on Chart, Eyes 50 Day Average

The Hourly View for MA

Last Updated September 22, 2020, 00:011 GMT

At the moment, MA’s price is down $-9.12 (-2.72%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as MA has now gone up 4 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50 and 100 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Mastercard Inc Daily Price Recap

Mastercard Inc came into today down 2.21% ($7.41) from the open of the day prior, marking the 3rd day in a row a decline has happened. As for how volume fared, yesterday’s volume was up 8.44% from the previous day (Sunday), and up 52.67% from Monday of the week before. The daily price chart of Mastercard Inc below illustrates.


Mastercard Inc Technical Analysis

Notably, Mastercard Inc is now close to its 50 day averages, located at 327.54 respectively, and thus may be at a key juncture along those timeframes. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For another vantage point, consider that Mastercard Inc’s price has gone down 9 of the previous 14 trading days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

Overheard Around the Web

Here’s what one trader on StockTwits recently had to say in regards to MA:

    Top financial service companies by market cap 💳 (as of today)

    1. Visa ( $V ) $444.81 B
    2. Mastercard ( $MA ) $335.61 B
    3. JPMorgan Chase ( $JPM ) $299.73 B
    4. ICBC ( $1398.HK ) $242.98 B
    5. Bank of America ( $BAC ) $221.48 B