New York, December 21st (TradersHuddle.com) - MasterCard, Inc. (NYSE:MA) closed the trading day at $498.53, near its 50 day moving average that is set at $474.25. Mastercard's price action is just above this important support level, providing a trading opportunity.
MasterCard, Inc. (NYSE:MA) is a global payment solutions company that provides a variety of services in support of the credit, debit and related payment programs of financial institutions. The Company offers transaction processing services for credit and debit cards, electronic cash, automated teller machines, and travelers checks.
The peaks and troughs algorithm shows calculated support at $447.38 and calculated resistance at $483.68. These levels should also be evaluated when planning trades, as they provide an insight into the latest price action.
Traders wanting to establish a position on Mastercard should look for evidence of buying near the 50 day moving average, and open this position as close as possible to this important level. Also, they need to consider the latest range defined by the peaks and troughs algorithm for insights on other key levels that might impact an upside or downside move.
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