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MasterCard Inc. Technical Analysis

4/20/2023 11:14 AM

Shares of MasterCard Inc., one of the largest US multinational companies providing payment transaction services, are trading in a corrective trend at 372.00.

On the daily chart, the price is forming a Head and shoulders reversal pattern with a Neckline around 340.00.

On the four-hour chart, it can be seen that the current up wave is the second Shoulder of the formation, and soon the decline may continue. The key for the bulls is the maximum of the pattern's Head at 380.00, consolidation above which will open up an opportunity for growth to 396.00.

The probability of serious growth is not yet considered, despite the readings of technical indicators that hold a buy signal: fast EMAs on the Alligator indicator are above the signal line, and the AO histogram is trading close to the transition level, forming corrective bars.

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