Mastercard: Another Triangle in Big Tech

Sometimes people forget that the credit-card companies are members of the technology sector, but they are. We’ve already covered the bullish triangles in other tech names like Microsoft and And now Mastercard is showing a similar pattern.

MA has faced resistance around $282, which closely matches its 200-day simple moving average ( SMA ). Meanwhile it’s made steadily higher lows, forming an almost perfect ascending triangle .

The other interesting thing about MA is that it’s so clearly tied to consumer spending and the economy. That could make it a logical go-to stock for institutional investors as the coronavirus lockdowns end. It’s also a liquid options underlier, averaging more than 30,000 options contracts per session.

Looking at the weekly chart, we see MA has formed two inside weeks in a row. Combined with the April monthly high and the 200-day SMA , there’s a lot of importance in the $282-285 area. This creates the potential for buyers to get more active if it starts to break through this zone.

This is one to watch as the global economy reopens.


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