Mastercard Inc (MA) is a leading global payment technology company that connects consumers, financial institutions, merchants, governments and businesses across the world. The stock topped out on August 28th, 2020 at $367.25 a share. Since that high pivot, the stock has made lower highs on the daily chart and recently declined after reporting earnings. Mastercard Inc (MA) shares are now trading below the important 200-day moving average. This puts the stock in a weak technical position on the charts. It will often indicate lower stock prices are ahead. Today, Mastercard Inc (MA) shares are trading lower by $4.21 to $288.97 a share.
The next major support level that I see for Mastercard Inc (MA) will be around the $275.00 level. This key support area is where the stock’s 100-week moving average is located. There is also an important gap fill from early May 2020 that should serve as even more support in the same chart vicinity. This setups up as a solid risk / reward long trade setup around the $275.00 level.
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