Solid News

MasterCard Shares Set to Continue Rising

9/13/2022 3:47 PM

Shares of the largest American transnational company providing payment services, MasterCard Inc., are correcting around 337.00.

It became known that Bitso, a dynamically developing cryptocurrency exchange in Latin America, which processes up to 5% of all money transfers to Mexico, has signed an agreement with the issuer: the exchange intends to use MasterCard Inc. payment cards, which will support payment for purchases in Mexican pesos.

Investors expect the situation to continue developing with the decision of the International Organization for Standardization (ISO), which on Friday approved the creation of a special code for implementation in all payment systems to track suspicious arms transactions. So far, only Visa Inc. has supported the proposal, but MasterCard Inc. has already commented on the situation, saying that the corporation is carefully studying the initiative since it is focused on conducting operations within the legal framework.

The next financial report will be released on November 11, and so far, the estimated revenue is 5.67B dollars, which is about the same as the previous quarter, and earnings per share are expected to be around 2.58 dollars, which is also near 2.56 dollars in the second quarter.

The trading instrument is moving within the global Triangle pattern with dynamic boundaries of 300.00–355.00, forming a new growth wave. Technical indicators are ready to react and are reversing upwards: fast EMAs on the Alligator indicator are approaching the signal line, and the AO oscillator histogram forms upward bars in the sell zone.

Resistance levels: 345.00, 363.00. | Support levels: 321.70, 303.30.

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