Solid News

MasterCard Inc., Technical Analysis

8/24/2022 12:37 PM

The corrective trend in the stocks of MasterCard Inc., one of the largest American transnational companies providing payment transaction services, continues, and the quotes of the trading instrument are now around 340.00.

On the daily chart, a global sideways corridor is developing with dynamic boundaries 305.00–392.00, within which the price failed to break the local resistance line at 360.00 and began to fall.

On the four-hour chart, the quotes began to reverse, approaching the support line of the global corridor at 305.90, and in case of further decline, the intermediate support level at 330.60 will be the key obstacle.

Technical indicators have begun to form the first signs of a reversal: fast EMAs on the Alligator indicator narrow the range of fluctuations, and the AO oscillator histogram forms downward bars above the transition level.

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