Welcome to PrimeXBT’s technical analysis of MasterCard’s stock, the multinational financial services corporation that has been demanding investor’s attention.
Fundamental Analysis / News:
Recently, MasterCard (NYSE:MA) climbed +0.87% after-hours after increasing its quarterly dividend to 0.40/share from 0.33/share and authorizing the repurchase of as much as 8B of Class A common stock.
MA says the new buyback plan will take effect at the conclusion of the current 6.5B repurchase program, which has ~300M remaining under its authorization.
Technical Analysis:
At the end of last week, MA's stock price broke through the previous historical all-time high level.
If the price breaks this psychological resistance level, a continuation of the uptrend will be confirmed and we’ll have to search for new buying opportunities based on the same level.
Overall, it is expected that in the short-term the market price will gradually drop to its current support zones before building enough momentum to set another record high.
Support zone #1: $292.30-293.60
Support zone #2: $280.30-282.20.
Psychological resistance level: $300
Market Cap: 299.469B
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