Chart of the Day: Mastercard Makes a Quiet Move Up
New highs are in sight as the giant credit-card name makes a bullish run towards $500.
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A strong move up for Mastercard MA during the month of August may not be over as we turn the calendar page next week.
The stock has been on a roll lately, with a series of higher highs, higher lows on the price chart. That is the textbook definition of an uptrend, and certainly with the stock moving through the late July highs (post earnings) Mastercard is on its way, moving stealthily and quietly forward.
The old highs from back in March 2024 are not that far away from current levels, something that can be achieved easily. The indicators are aligned bullish as well, with the Moving Average Convergence Divergence (MACD) on a buy signal while stochastics are embedded, which means any pullbacks are being bought (according to this momentum indicator).
Money flow has improved, with higher highs and higher lows in the Chaikin money flow indicator (bottom pane). With price bars in blue (top pane), the GoNoGo composite of indicators is bullish, too. Carry on, Mastercard!
We rate Mastercard a Two in TheStreet Pro Portfolio.
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At the time of publication, TheStreet Pro Portfolio was long MA.
