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- 1 Mastercard stock price trades above the 20, and 50-day daily moving averages, following trendline support.
- 2 The year-to-date return of Mastercard Inc. is 18.48% while the three-month return is 11.92%
- 3 Mastercard Inc. ( NYSE: MA) stock’s 52-week price range is around $276 – $417.
MA stock was going up from last year’s October before the start of 2023, and the buyers were piling up. MA stock price was at $414.62 with an intraday increase of 0.35%. Moreover, the intraday trading volume of MA is 2.503 Million higher than the 10-day aggregate volume of 2.066 Million.
According to the price action, the MA stock is showing signs of a big rise with a chance to grow more in the next sessions. The stock is moving up with the help of the buyers, who are trying hard to maintain these levels.
The MA stock (Mastercard Stock) continues to show bullish momentum in the uptrend above the key moving averages. On the daily charts, MA stock is in the bullish zone and has maintained the uptrend above the 20 and 50-day EMAs.
Based on recent data, the revenue of the period ending June 2023 was $6.269 Billion with a net income of 2.85 Billion. Moreover, the MA stock estimated EPS for the June ‘23 period was 2.83, and the reported EPS was 2.89 giving a positive surprise of 2.06%. Moreover, the forecasted EPS for the next quarter is positive at 3.22.
As per Simply Wall St., which is a financial website, MA Foundation and Endowment Arm is the top shareholder and owns 10.46% of the Mastercard Incorporated company. It holds 98,550,037 MA shares worth $40.9 Billion. As per the recent insider activity, in the last three months, a hefty amount of MA shares have been sold. MA Foundation and Endowment Arm, who is the top shareholder of the company sold 1,006,528 MA shares worth $395.9 Million on the 10th, 15th, and 17th of August, 2023.
Technical Analysis of MA Stock Price in 1-D Timeframe
As per price action, MA was in a bullish trend from October last year. The MA price found support around $276 and was strongly bought as it was available at a discount at that period. From the low of $276 to the high of $417, the journey upwards was swift and flawless, the high was reached by August 30, 2023. Moreover, the price moved along the Fibonacci levels of 78.60%, 61.80%, 50.00%, 38.20%, and 23.60% and respected its levels effectively as noticed on charts, and rose firmly from these Fibo levels.
As per the CMP $414.62 (at press time), the price faced minute resistance earlier but continued from $410 and bounced back upwards.
Therefore, the current stock price of MA stock might achieve more, there is a possibility for the price to move toward the next resistance level of $420 and $430.
On the other hand, if the price breaks below the $396 significant support level, it might fall toward $387 and beyond.
At the time of publishing, Mastercard Incorporated (NYSE: MA) is trading above the 20 and 50-day EMA. RSI is around 65, turned bullish as it took 14 SMA support and above the median line and MACD gave a bullish crossover on the charts and the histogram gap is widening indicating reliable momentum.
Summary
MA’s stock prices have been going up lately, trading above the $396 support level per share and showing signs of a strong upward trend. The stock prices could break through the recent high of $417 if they keep rising. The technical indicators for MA also confirm the positive outlook, as they have turned bullish. The market sentiment for MA is also optimistic, as many traders and investors are buying and holding the stock.
Technical Levels
Support levels: The nearest support levels for MA price are $396 and $387.
Resistance levels: The nearest resistance levels for the MA stock price are $420 and $430.
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
