Chart of the Day: Mastercard = Master Chart
The stock is powering up and showing great relative strength.
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Mastercard MA continues to impress.
The stock made new all-time highs last week, showing terrific gains so far in November. The strength should not come as a surprise to most, the company is a haven for credit-thirsty consumers.
The chart is very strong here, too, but an overbought condition may soon be an impediment. The top pane shows the stock has been in an uptrend, a channel drawn of higher-highs and higher-lows. That breakout from the right-pointing triangle, seen midway on the top pane, was on better volume, a sign that big institutions were in there buying Mastercard.
Below, in the second pane, we see the Moving Average Convergence Divergence oscillator on this daily chart could start rolling here; the money flow at the bottom pane has already moved to negative territory.
The Stochastics (momentum) in pane four is also rolling over, but the price action dictates the chart's posture, and it is still bullish.
We like Mastercard and rate it a "Two" in TheStreet Pro Portfolio; we see it as one to stockpile on pullbacks.
The Pro Portfolio is long MA.
