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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 $321.61 and $322.66 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 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.

Mastercard Inc-A share prices have moved between a 52-week high of $324.03 and a 52-week low of $193.10 and are now trading 67% above that low price at $322.07 per share. Over the past week, the 200-day moving average (MA) has gone up 0.7% while the 50-day MA has advanced 1.4%.

Mastercard Inc-A (NYSE:MA) defies analysts with a current price ($322.07) 35.9% above its average consensus price target of $206.50. Mastercard Inc-A shares have support at the 50-day moving average (MA) of $293.54 and additional support at the 200-day MA of $272.33.

SmarTrend recommended that subscribers consider buying shares of Mastercard Inc-A on November 18th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $280.08. Since that recommendation, shares of Mastercard Inc-A have risen 15.6%. 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