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MasterCard: The Winning Streak Continues (MA)

By David Diaz

Shares of MasterCard (NYSE:MA) traded today at $103.45, breaking its 52-week high. This new high was reached on below average trading volume as 469,000 shares traded hands, while the average 30-day volume is approximately 3.8 million shares.

In the past 52 weeks, shares of MasterCard have traded between a low of $74.61 and a high of $103.45 and are now at $103.18, which is 38% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.9%.

Potential upside of 8.2% exists for MasterCard, based on a current level of $103.18 and analysts' average consensus price target of $111.63. The stock should discover initial support at its 200-day moving average (MA) of $93.74 and subsequent support at its 50-day MA of $93.13.

MasterCard, Inc. is a global payment solutions company that provides a variety of services in support of the credit, debit and related payment programs of financial institutions. The Company offers transaction processing services for credit and debit cards, electronic cash, automated teller machines, and travelers checks.

SmarTrend recommended that subscribers consider buying shares of MasterCard on July 20th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $92.79. Since that recommendation, shares of MasterCard have risen 10.9%. We continue to monitor MA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows MasterCard

Ticker(s): MA