MA NEXT DAYS/WEEKS ANALYSIS - Counter thrend-next breakout
DAILY CHART
As ween can see in the daily chart , the Mastercard stock until the end of March was in a strong downtrend. Around end of March it has a double bottom (As Visa stock) and then began a new uptrend. We can say it is going for uptrend cause the Lower High around $260 was broken,and now as we can see the price is retesting that previous resistance that now is a new support.
We saw the price retrace at 0.618 fib level and now, it was consolidating for some period and after breaking the descending channel it went around 280$ and formed a double top (?) .
Scenarios
Maybe the price will retrace a little bit to test some previous supports and bounces back to retrace higher possible in the 1,27 or 1.618 fib extencion level that also around there is a strong resistance from previous months at around 320$.
This is just my opinion not a financial or trading advice.
As ween can see in the daily chart , the Mastercard stock until the end of March was in a strong downtrend. Around end of March it has a double bottom (As Visa stock) and then began a new uptrend. We can say it is going for uptrend cause the Lower High around $260 was broken,and now as we can see the price is retesting that previous resistance that now is a new support.
We saw the price retrace at 0.618 fib level and now, it was consolidating for some period and after breaking the descending channel it went around 280$ and formed a double top (?) .
Scenarios
Maybe the price will retrace a little bit to test some previous supports and bounces back to retrace higher possible in the 1,27 or 1.618 fib extencion level that also around there is a strong resistance from previous months at around 320$.
This is just my opinion not a financial or trading advice.