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Watch for Continued Gains in Shares of MasterCard (MA)

By David Diaz

Shares of MasterCard (NYSE:MA) traded today at $101.97, breaking its 52-week high. This new high was reached on below average trading volume as 398,000 shares traded hands, while the average 30-day volume is approximately 3.8 million shares.

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.

Over the past year, MasterCard has traded in a range of $74.61 to $101.97 and is now at $101.87, 37% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.9%.

MasterCard has overhead space with shares priced $101.87, or 8.7% below the average consensus analyst price target of $111.63. MasterCard shares have support at the 200-day moving average (MA) of $93.74 and additional support at the 50-day MA of $93.13.

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 9.1%. 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