Mastercard (MA) Price Near $340.58; 3 Day Down Streak Ended

The Hourly View for MA

Last Updated September 10, 2020, 15:9 GMT

At the time of this writing, MA’s price is up $3.29 (0.97%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on MA. Given that we see an uptrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 is up 2.96% ($9.76) since the day prior, marking a reversal from the day prior — and the end of a 3 day negative run. This move happened on lower volume, as yesterday’s volume was down 25.13% from the day before — and down 6.51% from the same day the week before. Let’s take a look at the daily price chart of Mastercard Inc.

MA

Mastercard Inc Technical Analysis

Notably, the current price of Mastercard Inc is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Or to view things another way, note that out of the past 30 days Mastercard Inc’s price has gone up 18 them.

Overheard Around the Web

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

    $MA I usually think of Cramer as what opposite to do, but he has a huge following and this time statistics are on his side.
    Just be careful buying dips (then again, this could be that someone just missed the lows and needs a cheaper stock—I know I would like to buy some financial stocks a lot cheaper if the slide affects all markets)

    KEY POINTS
    “The recent sell-off could be a sign that this bull’s getting long in the tooth,” CNBC’s Jim Cramer said, citing research from technical analyst Carley Garner.
    “Garner’s betting that the S&P 500 can give you one last gasp higher from here, followed by a truly savage sell-off,” the “Mad Money” host said.
    “I don’t know if she’s right, but that would be pretty par for the course for the historically hideous month of September,” he said.

    https://www.cnbc.com/2020/09/09/jim-cramer-breaks-down-how-an-sp-500-climb-could-be-followed-by-a-truly-savage-sell-off.html

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