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MasterCard Inc. Market Update

11/16/2022 3:14 PM

The shares of MasterCard Inc., one of the largest US multinational payment services companies, are correcting at 343.00.

The corporation continues its active expansion in the electronic currency market: yesterday, during a conversation between its head Michael Miebach and journalists, it became known about the launch of seven more industry startups for the MasterCard Start Path program. Also, the businessman confirmed his intention to develop cryptographic technologies and noted that their full implementation would take a long time and require the development of a legal framework. The Federal Reserve Bank of New York has launched its previously announced 12-month Central Bank Digital Currency (CBDC) pilot, and MasterCard Inc. was selected among other financial giants to test this project.

The quarterly report, published at the end of October, recorded revenue of 5.8B dollars, which exceeded the previous result of 5.5B dollars and analysts' forecast of 5.65B dollars. Earnings per share also showed positive dynamics and amounted to 2.68 dollars compared to 2.56 dollars in the previous quarter.

On the daily chart of the asset, the price is moving within the global downward corridor with dynamic boundaries of 340.00–270.00, trying to consolidate above the resistance line.

Technical indicators have given a buy signal: fast EMAs on the Alligator indicator are approaching the signal line, and the AO oscillator histogram forms upward bars in the buying zone.

Resistance levels: 351.00, 375.00. | Support levels: 336.00, 311.00.

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