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

By Shiri Gupta

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 $321.49 and $322.66 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.

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.

Over the past year, Mastercard Inc-A has traded in a range of $193.10 to $324.03 and closed yesterday at $325.20, 68% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has risen 0.3%.

Mastercard Inc-A (NYSE:MA) is currently priced 36.5% above its average consensus analyst price target of $206.50. The stock should find initial support at its 50-day moving average (MA) of $294.58 and further support at its 200-day MA of $272.75.

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 am inside day candle mastercard inc-a

Ticker(s): MA