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Mastercard Inc (MA): Mark Up Could Continue

 


Mastercard Inc (MA): Mark Up Could Continue
US$526.60

The rally that led to the $531 resistance in October likely marked a buying climax, where significant demand pushed prices higher. This was followed by a consolidation, as selling pressure from short-term traders met sustained buying from investors. This behavior indicates potential reaccumulation process.

Noticeable spikes in volume accompany upward moves in recent trading suggest weakening selling pressure and increase in demand.

Technical indicator, stochastic turning with relative strength and Fund Flow Index trading above zero supports the notion that price continue its mark up from here.

First Technical Target is at US$557.00, while Trailing stop is set below 48Days Simple Moving Average.

Disclaimers apply

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