Credit Crunch or Credit Squeeze? $V $MA – April 20, 202
This is Scott with your Charts of the Day. I want to show you two charts that we’ve been watching over at StockMarketMentor.com, and that I covered last night in my Strategy Session. And I will probably cover again tonight because they are strong. Even in all of this market volatility, and even with headlines of a potential credit crunch coming down the road, Visa ( NYSE: V ) and Mastercard ( NYSE: MA ) are holding up really well here.
If I zoom out you can see that this stock ( NYSE: V ) is not only above all its major moving averages, but really close to its all-time high, it is less than 10 percent from the all-time high. And so while credit may be hard to get, with high-interest rates, I have a feeling a lot of these credit card companies are making a lot of money from people who owe them money.
So this is definitely a stock that I want to keep an eye on because it has a nice little cup. It is building a handle, and it is right under a clear level of resistance, right around that 235.00 area. Mastercard ( NYSE: MA ) is very similar. A little bit of a cup, building a handle, and if I zoom out it is pretty close to its all-time high from back in 2021.
These are two charts that I think are worth keeping on a watch list, so I wanted to share them with you, and hopefully, you make some money out of these ideas.
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