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MasterCard Inc., Technical Analysis

12/15/2022 10:16 AM

Shares of MasterCard Inc., one of the largest US multinational companies providing payment services, are moving within a corrective trend of around 357.00.

On the daily chart, the price is holding above the resistance line of the global downward corridor with dynamic boundaries 275.00–347.00, trying to consolidate above and continue to grow.

The four-hour chart of the asset shows that the upward movement has a high potential for continuation since the quotes have already twice overcome the high of August 15, around 358.00, and are now around this mark. The final consolidation above will allow the asset to reach the global high of February 2 at around 396.00. However, in case of a reversal and the start of a decline, the price will retest the channel resistance line around 348.00.

Technical indicators keep a stable buy signal: fast EMAs on the Alligator indicator are above the signal line, and the AO oscillator histogram forms rising bars in the buying zone.




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