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After Yesterday's Rally of 1.01% Shares Could Potentially Pullback

By Shiri Gupta

MasterCard (NYSE:MA) traded in a range yesterday that spanned from a low of $123.35 to a high of $124.85. Yesterday, the shares gained 1.0%, which took the trading range above the 3-day high of $123.40 on volume of 1.4 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, MasterCard share prices have been bracketed by a low of $74.61 and a high of $124.85 and are now at $124.55, 67% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.9%.

SmarTrend recommended that subscribers consider buying shares of MasterCard on February 23rd, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $110.18. Since that recommendation, shares of MasterCard have risen 12.0%. We continue to monitor MA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders MasterCard

Ticker(s): MA