Solid News

MasterCard Inc., Technical Analysis

8/10/2022 12:22 PM

The corrective trend in the stocks of MasterCard Inc., one of the largest American multinational companies providing payment transaction services, continues, and the instrument is trading around 346.00.

On the daily chart of the asset, a global Triangle pattern is developing with dynamic boundaries of 300.00–360.00, within which the price has approached its upper border. There has not yet been a full-fledged attempt to consolidate above this level, but the probability of overcoming it is extremely high.

On the four-hour chart, the asset has already begun to reverse, holding the pattern structure. In case of further decline, another downward wave will be formed with the target near the support line at 300.00.

Technical indicators began to form the first signs of a reversal: indicator Alligator’s EMA oscillation range narrows, and the AO oscillator histogram forms new downward bars above the transition level.

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