Mastercard Inc. MA stock price reversed and fell approximately 4% from its 52-week high. It struggled a lot to break the $418.00 hurdle but the attempt failed and the price witnessed profit booking.
Mastercard stock price is trading above the 50-day and 200-day EMA showcase the trend is in an upward direction.
However, in the recent sell-off, the bears are trying to drag the price below the 50-day EMA. If they succeed, then the short-term trend might reverse downward.
In mid-August, the MA stock price broke out of the $400.00 hurdle with a strong buying volume. It triggered positive sentiment and boosted the confidence of long-term investors. However, the momentum halted near $418.00 and the price entered into consolidation.
Mastercard stock price looks mildly overstretched. So, the short-term retracement is healthy for better price discovery.
Meanwhile, the broader market indices Dow Jones, Nasdaq 100, and S&P 500 are turning mild bearish. It might disturb the market sentiments which may negatively impact the MA stock.
Will Mastercard Inc. (MA) Stock Hold $400 Support?
Mastercard Inc. MA stock price showed initial signs of bearish trend reversal. But the confirmation of the trend reversal will come when the price drops below $386.00 support.
Mastercard stock price closed the previous session at $403.36 with an intraday decline of -1.74%. The market capitalization stands at $380.05 Billion.
Till the MA stock price sustains above the $386.00 level, the price is expected to remain in the bulls’ grip. At present, sellers look active so a $400.00 breakdown may come but buyers will try their best to rebound from support.
Mastercard Stock Price Analysis
Mastercard stock price formed a bearish candle on a weekly time frame. It shows that sellers are getting active and buyers are stepping back.
Previously, MA stock prices had rallied a lot and generated a decent return for long-term investors. So, short-term buyers might have booked their profit.
The MACD curve reversed down and generated a negative crossover. The histogram bar is also turning red which showcases bearishness. The RSI at 43 denotes weakness and sellers are strengthening their grip.
Mastercard Inc. MA stock fell approximately 4% after hitting the 52-week high at $418.60. The stock witnessed profit booking and $400.00 is now at risk.
The analysis suggests Mastercard stock is mildly bearish for the short term so the possibility of a $400.00 breakdown is high.
- Resistance levels: $410.00 and $418.00
- Support levels: $386.00 and $365.00
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