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Possible Bearish Inside Day Candle Pattern Detected for Mastercard Inc-A (NYSE:MA)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Mastercard Inc-A (NYSE:MA) based on the price action in the company's shares. Today's price range of $197.67 and $199.32 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Mastercard Inc-A may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Potential upside of 4.1% exists for Mastercard Inc-A, based on a current level of $198.35 and analysts' average consensus price target of $206.50. The stock should find initial support at its 50-day moving average (MA) of $187.74 and further support at its 200-day MA of $164.83.

In the past 52 weeks, Mastercard Inc-A share prices have been bracketed by a low of $120.65 and a high of $204.00 and are now at $198.35, 64% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 0.9%.

Mastercard Incorporated provides financial transaction processing services. The Company offers payment processing services for credit and debit cards, electronic cash, automated teller machines, and travelers checks. Mastercard serves customers worldwide.

SmarTrend recommended that subscribers consider buying shares of Mastercard Inc-A on May 2nd, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $185.69. Since that recommendation, shares of Mastercard Inc-A have risen 8.3%. We continue to monitor MA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle mastercard inc-a

Ticker(s): MA