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

By Nick Russo

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. Yesterday's price range of $194.71 and $196.70 is within the prior day'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.

In the past 52 weeks, shares of Mastercard Inc-A have traded between a low of $156.80 and a high of $225.35 and closed yesterday at $195.73, which is 25% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.2% while the 200-day MA has risen 0.2%.

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.

Potential upside of 5.5% exists for Mastercard Inc-A, based on a current level of $195.73 and analysts' average consensus price target of $206.50. The stock should hit resistance at its 200-day moving average (MA) of $197.82, as well as support at its 50-day MA of $194.28.

SmarTrend is monitoring the recent change of momentum in Mastercard Inc-A. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Mastercard Inc-A in search of a potential trend change.

Keywords: bearish am inside day candle mastercard inc-a

Ticker(s): MA