MasterCard Breakout Ahead? Watch This Key Level! – February 18, 2025
This is Scott at Scott Trades on Twitter with StockMarketMentor.com and your Chart of the Day. I want to take a look at Mastercard ( NYSE: MA ).
I saw a chart today, I’ll put it up on the screen here, that said credit card delinquencies are on the rise. As bad as that sounds, it’s probably good for credit card companies because then they are charging more and more interest. We see Mastercard ( NYSE: MA ) here in a strong uptrend and above all its key moving averages.
It’s above the 200-day moving average, the 50-day, the 21-day, and just bounced off this 8-day exponential period moving average today, and did it on pretty good volume. If I break things down to a short-term chart we actually see a volume spike just at the close. The buyers stepped in at the close and closed this stock right near the highs.
In terms of a chart pattern, I definitely see a bit of a pennant pattern here. A downward-sloping trendline, and clear resistance from this big earnings candle all the way down to today. So what I would look for on an entry on Mastercard ( NYSE: MA ) is a move and a close above that level coming on volume.
You would want to see it get above and stay above 569.00, and ideally do it on volume because that would signal that it’s able to soak up any upward supply that might be left in the stock from anyone who bought some of the highs here. So I would definitely keep an eye on Mastercard ( NYSE: MA ) and have an alert right around 569.00. Look for that strong move through that level coming on volume.
Free Chart