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MasterCard Inc. Market Analysis

2/8/2023 2:40 PM

The correction trend in the stocks of MasterCard Inc., one of the largest American multinational companies providing payment transaction services, continues, and the shares are trading at 374.00. 

The company is still actively expanding in the e-currency market and on the eve announced a partnership with the leading crypto exchange Binance. As part of the cooperation, a prepaid card will be presented to residents of Brazil, with which owners will be able to perform exchange operations with cryptocurrencies. This is not the first agreement in the field of the crypto market that has been concluded recently, and MasterCard Inc. continues to hold a leading position in this integration. 

As for the financial component, the report for Q4 2022 was perceived by the market neutrally, largely due to the coincidence of the actual results with the expected ones. Thus, diluted earnings per share increased by 13.0% year-on-year and reached 2.65 dollars per share, which exceeded Bloomberg forecasts at 2.58 dollars. Net profit remained in line with expectations of 2.5B dollars, and annual revenue growth was 12.0%, fixing the figure at 5.8B dollars, the reason for which is an increase in the volume of cross-border payments by 31.0%.       

On the daily chart, the price continues to trade within the global ascending corridor with dynamic boundaries of 400.00–375.00, attempting to move away from the support line.

Technical indicators react to the local correction, but still hold the buy signal: the fast EMAs on the alligator indicator are above the signal line, and the histogram of the AO oscillator forms correction bars, staying in the buy zone.

Support levels: 364.00, 348.00. | Resistance levels: 382.00, 400.00.

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