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

By Amy Schwartz

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 $273.20 and $274.18 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.

Mastercard Inc-A (NYSE:MA) is currently priced 24.6% above its average consensus analyst price target of $206.50. The stock should hit resistance at its 50-day moving average (MA) of $274.65, as well as support at its 200-day MA of $255.61.

In the past 52 weeks, Mastercard Inc-A share prices have been bracketed by a low of $171.89 and a high of $293.69 and are now at $274.01, 59% above that low price. The 200-day and 50-day moving averages have moved 0.71% higher and 0.16% lower over the past week, respectively.

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 is tracking the current trend status for Mastercard Inc-A and will alert subscribers who have MA in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle mastercard inc-a

Ticker(s): MA