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MasterCard Inc., Technical Analysis

2/21/2023 10:08 AM

The shares of MasterCard Inc., one of the largest US multinational companies providing payment services, are moving within a corrective trend at 360.00.

On the daily chart, the price is below the support line of the global ascending corridor with dynamic boundaries of 370.00–390.00, falling lower and lower.

On the four-hour chart, there was a reversal according to the laws of technical analysis, which is confirmed by the presence of the Head and shoulders pattern, the Neckline of which was passed at 368.00. The key point for the further decline is low at 355.00.

Technical indicators gave a sell signal: fast EMAs on the Alligator indicator crossed the signal line downwards, and the AO histogram forms downward bars in the sell zone.

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